Moody's Review May Not Hamper Calif. Cities' Credit Access

Law360, San Diego (October 10, 2012, 9:35 PM EDT) -- Credit rating agency Moody’s Investors Service Inc. is considering downgrading 30 California cities in light of a series of municipal bankruptcies in the state, but the agency’s move may not have much of an impact on local governments’ access to credit.

Moody’s said Tuesday that it was reviewing the debt of Sacramento, Oakland, Fresno, Santa Monica, Santa Barbara  and other cities for possible downgrades. It said the review, which will look at $14.3 billion in lease-backed and general obligation debt issued by cities, reflects economic pressures...
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