In another sign of Connecticut's wobbly finances, a Wall
Street bond rating agency has downgraded the state's bond rating for the third time in less than a week.
Last year, she made no secret of studying the potential for municipal bankruptcy, even when it scared Wall
Street bond ratings agencies.
Not exact matches
He said the town was considered a creditworthy entity, found to be «investment grade» by Wall
Street bond -
rating agencies.
The new plan also offers a major bow to bondholders and Wall
Street credit
rating agencies, who might be worried that state
bonds — with payments guaranteed by the state's income tax revenues — could face future payment issues if Albany is to rely less on income tax collections.
Wall
Street rating agency Standard and Poor's Financial Services LLC raised Erie County's
bond rating to A - from BBB +.
A Wall
Street ratings agency downgraded the county's
bond rating last month.
In his letter, Naughton noted that the Wall
Street agency Standard & Poor's recently upgraded the county's
bond rating outlook.
Here the Wall
Street bond trading desks exploited another blind spot in the
rating agencies» models.
«This
rating charade created a Wall
Street shell game constructed by the
ratings agencies for the benefit of the
bond insurers,» he said, adding that
bond insurers profited from unnecessary premiums and interest paid by taxpayers.....