Los Angeles Business Journal

Moody's to Review Ratings on California Cities

Monday, August 20, 2012

Moody's Investors Service will review its debt ratings of California cities over the next few weeks and that it believes the risk of default on municipal bonds in the state is rising. The Wall Street Journal and Associated Press report that the disclosure came after three California cities filed for bankruptcy protection this summer, prompting some investors to question their investments in certain California local governments.