Moody's Investors Service said it has downgraded to Baa1 from A3 the ratings on the city of Madras, Ore.'s full faith and credit obligations outstanding.
Moody's Downgrades Madras, Ore., to Baa1
JAN 7, 2013 7:36am ET
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Land isn't the only thing drying up in California, as the drought's economic impacts are dangerously closing in on the state's financial resources.
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