Friday, April 17, 2009

In no moody for muni 

A reader notes from my post earlier this week that the ratings services were getting off the hook that Moody's is putting muni bonds on a blanket negative outlook. �He notes that this comes "just as their best customers are about to start bonding for stimulus projects." �As the New York Times article I've linked says, in the past Moody's didn't rate municipal bonds, issued by cities for public works, because "its analysts have in the past considered America�s tens of thousands of towns and local authorities too diverse for generalizations." But this generalization ends up raising interest rates on public programs and will make the stimulus dollars go less far. �