Moody's Investors Service said it has downgraded the city of Woodland, Calif.'s 2002 lease revenue bonds to A2 from A1 and 2005 lease revenue bonds to A3 from A2.
Woodland, Calif., 2002 Lease Revs Cut to A2 by Moody's; 2005 to A3
JAN 11, 2013 7:30am ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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