Markets - Market News
Moody's Downgrades Madras, Ore., to Baa1
Monday, January 7, 2013
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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.

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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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