16 November 2012 0 Comments

Democrats Cannot Be Trusted With Money Part 9 – Allentown Bond Downgrade by Moody’s

READ MORE Morning Call 12 October 2012 reports: Moody’s frowns on $120.3 million debt. Mayor  Pawlowski cites need to ease ‘pension crisis.’ [because the only way to solve a spending problem is to spend more].  Investors use credit ratings such as Moody’s to determine the risk of a municipality’s defaulting on debt payments. A lower rating can force municipalities to pay higher interest rates to compensate for the risk, increasing the cost of borrowing.

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