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Article: WHILE STATE STRUGGLES, MOODY'S MAINTAINS 'A' BOND RATING FOR CITY
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- January 3, 1990
- Author:
CopyrightCopyright (null) The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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While the state's credit-worthiness has taken a nosedive on
Wall Street, Boston yesterday got a strong fiscal endorsement.
Moody's Investors Service announced it will maintain Boston's
A bond rating for the $90 million city bond issue to be floated
next week to pay for repairing schools, streets and parks.
The state's bond rating last month was dropped to the lowest
in the nation amid Wall Street concern about "poor financial
operations and a paralyzed budgetary process." The poor state
rating contributed to a downgrade for the quasi-independent Boston
Water and Sewer Commission.
Low bond ratings force governments to pay higher interest
rates to borrow money or delay bond issues ...