Moody's Investors Service said it has downgraded the issuer rating of the city of Glendale, Calif., to Aa2 from Aa1 and has downgraded to A1 from Aa2 the rating of the city's variable rate demand certificates of participation, Series 2000C (2000 Police Building Project).
Glendale, Calif., ICR Lowered to Aa2 by Moody's
JAN 11, 2013 7:59am ET
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"One of these things does not belong" is a catchy slogan and it comes to mind when looking at the latest tax policy ideas coming from Washington when looking at the municipal bond tax exemption. The exemption is not a result of the growth of a tax code designed to induce or reduce certain behaviors. Rather, it is the foundation for the flow of capital in a $3.7 trillion dollar market required to efficiently finance the nation's infrastructure.
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