Moody's Investors Service said it has downgraded to Baa1 from A2 the rating on $65.7 million of general obligation debt of the city of Niagara Falls, N.Y., and placed the rating under review for further downgrade.
Niagara Falls, N.Y., Downgraded to Baa1 by Moody's
JAN 9, 2013 3:19pm ET
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New York's budget leaves it at risk of becoming one of only five states that do not allow the use of design-build procurement to deliver public infrastructure projects.
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