Moody's Investors Service said it has downgraded the rating of San Bernardino County, Calif.'s pension obligation bonds to A1 from Aa3.
San Bernardino County POBs Downgraded to A1 by Moody's
FEB 26, 2013 11:09am ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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