TITLE

Moody's Downgrades Bonds Issued For Illinois Water-Treatment Plant

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/11/2003, Vol. 344 Issue 31613, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Moody's Investors Service Inc. has downgraded the rating of bonds from A1 to A3 which were issued for construction of a wastewater treatment plant that has been delayed because of a dispute with the Illinois Environmental Protection Agency. The village issued 53.4 million dollar of environmental improvement revenue bonds for the Metropolitan Biosolids Management project. The rating agencies downgraded the debt because of the delay, but differed in their approach to the rating. The Water Reclamation District will use the facility as an alternative to its current sludge ponds.
ACCESSION #
9611071

 

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