Moody's Investors Service said it has downgraded to Baa1 from Aa3 the rating on Valley Communication Center Development Authority, Wash.'s refunding bonds, 2010.

The bonds were issued by the authority and are secured by the full faith and credit of the underlying pool participants. Proceeds were used to refinance the Series 2000 obligations, which financed the construction of a new emergency communications center.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.