Utility's Letdown

Carvlin, Elizabeth
August 2003
Bond Buyer;8/27/2003, Vol. 345 Issue 31707, p35
Trade Publication
Reports that on August 25, 2003, the investment advisory agency Standard & Poor's Corp. lowered the ratings for the Lansing Board of Water & Light in Lansing, Michigan from AA to AA-minus. Outstanding debt for which the rating was changed; Reasons for financial pressures experienced by the utility board; Decision of the board to restructure its debt; Plans of the board to issue revenue refunding bonds; Evaluation of the utility by the agency.


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