Moody's: More Calif. Cities At Risk Of BankruptcySubmitted by emalvini on Fri, 08/17/2012 - 22:29
MOODY'S: MORE CALIF. CITIES AT RISK OF BANKRUPTCY
BY HANNAH DREIER AND GOSIA WOZNIACKA
Aug 17, 7:12 PM EDT
SACRAMENTO, Calif. (AP) -- One of the nation's top credit rating agencies said Friday that it expects more municipal bankruptcies and defaults in California, the nation's largest issuer of municipal bonds.
Moody's Investors Service said in a report that the growing fiscal distress in many California cities was putting bondholders at risk.