Moody's Downgrades Bayonne, N.J., Citing Structural Imbalance, Liquidity

D'Ambrosio, Jill
July 2004
Bond Buyer;7/20/2004, Vol. 349 Issue 31929, p3
Trade Publication
Reports on the move of Moody's Investors Service Inc. to lower the general obligation ratings of Bayonne, New Jersey. Detection of a structural imbalance in the city's operating budget; Concern of the agency on the tight liquidity and its narrow current fund balance; Need for the town to turn to cash flow borrowing.


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