Standard & Poor's dropped its rating Tuesday to D on $25 million of lease-backed revenue debt issued in 2010 by a Minnesota city to finance a sports complex that it cut financial support to last year.
Payment Default Triggers Downgrade on Minnesota City's Sports Complex Bonds
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.
the bond buyer conferences
September 25-27, 2013JW Marriott LA Live, Los Angeles, CA
October 27-29, 2013Crowne Plaza Times Square Manhattan, New York, NY