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Moody's sees greater chance of municipal bankruptcies, bond defaults in Calif.

 
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User ID: 23915474
United States
09/19/2012 11:07 PM
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Moody's sees greater chance of municipal bankruptcies, bond defaults in Calif.
SACRAMENTO, Calif. (AP) -- One of the nation's top credit rating agencies said Friday that it expects more municipal bankruptcies and defaults in California, the nation's largest issuer of municipal bonds.

Moody's Investors Service said in a report that the growing fiscal distress in many California cities was putting bondholders at risk.

The service announced that it will undertake a wide-ranging review of municipal finances in the nation's most populous state because of what it sees as a growing threat of insolvency.

[link to finance.yahoo.com]
Anonymous Coward
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09/19/2012 11:55 PM
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Re: Moody's sees greater chance of municipal bankruptcies, bond defaults in Calif.
But.. I thought real estate prices were climbing sharply in california....
Anonymous Coward
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09/20/2012 12:23 AM
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Re: Moody's sees greater chance of municipal bankruptcies, bond defaults in Calif.
Geniuses, I'm expecting Moodys to announce that current indications are that Katrina was a major storm. Clowns, no wonder they missed the mortgage crisis...
Anonymous Coward
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09/20/2012 12:30 AM
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Re: Moody's sees greater chance of municipal bankruptcies, bond defaults in Calif.
Get ready for the fat cat too highly paid California civil servant/municipal worker bail out America, whether you live there or not. No way Obama doesn't bail out the state with the most libtard voters.

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