Moody's: Upgrade Trend May Soon Reverse

Vadum, Matthew
April 2003
Bond Buyer;4/17/2003, Vol. 344 Issue 31617, p4
Trade Publication
Municipal bond rating upgrades barely outnumbered downgrades in the first quarter as prolonged economic weakness and slumping equity markets hurt public finance credit quality, says a new report from Moody's Investors Service Inc. The dollar value of the downgrades, which included two state-credit downgrades — California and Oregon — that involved more than 30 billion dollars in debt, outweighed the dollar value of the upgrades by a ratio of 2.4 to 1, it said.


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