Markets - Market News
Utica, N.Y., Downgraded to Baa2 by Moody's
Monday, February 25, 2013
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Moody's Investors Service said it has downgraded the city of Utica, N.Y.'s general obligation rating to Baa2 from Baa1, affecting approximately $47 million in outstanding rated debt; the outlook remains negative.

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Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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