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Moody's Downgrades Texas Municipal Gas Acquisition & Supply Corporation I To A1

JAN 21, 2009 3:32pm ET

Moody's Investors Service has downgraded the rating of Texas Municipal Gas Acquisition & Supply Corporation I, Gas Supply Revenue Bonds, Series 2006A, 2006B and 2008D to A1 from Aa3. The A1 rating remains on watch for further downgrade. The downgrade is a result of the downgrade of Merrill ...

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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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