Thread: Muni watch
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Old 04-28-2011, 04:47 PM
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Mary Pat Campbell
 
Join Date: Jan 2010
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NJ downgraded

http://www.newjerseynewsroom.com/eco...%204%2F28%2F11

Quote:
The bond rating for New Jersey’s state government has been downgraded one step to Aa3, the fourth-highest level, by Moody’s Investors Service, which cited a “weakened financial position” and an economic recovery lagging behind the nation.

Only Illinois and California have lower ratings from Moody’s, according to data compiled by Bloomberg News Service. Moody’s cited New Jersey “rapidly rising fixed costs, relatively slow economic recovery, and a lack of specified plans to rebuild fund balances.” Rising health-care and pension costs were also cited as a concern.

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