“The number of defaults from U.S. municipal issuers rated by Moody’s Investors Service has more than tripled to 4.6 per year since 2007, showing willingness to pay can’t be taken for granted, the company said in a report. Five municipalities rated by Moody’s defaulted last year, including Stockton, California, which became the biggest U.S. city to seek Chapter 9 bankruptcy protection in June. Wenatchee, Washington, failed to honor a guarantee on an interest payment for a sports arena. The figure doesn’t include issuers such as Vadnais Heights, Minnesota, which ‘selectively defaulted’ on contingent liabilities, the report said.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
China produces as much CO2 per person as Europe
Police restrain crowd from taking food to be thrown away after supermarket eviction
Bulletproof whiteboards installed in Minnesota school district
Disruptions: A Digital Underworld Cloaked in Anonymity
Is sentiment toward gold shifting again?
Google, once disdainful of lobbying, now a master of Washington influence
Cayman Islands, Costa Rica agree to share bank account details with US
Italian showdown with Germany as Enrico Letta rejects 'death by austerity'
Pharma firms paid East German state to test drugs on population
Lawsuit Alleges IRS Improperly Seized 60 Million Personal Medical Records
Separatists chant ‘Death to Belgium’ at country’s new royal couple
Don't Expect Bitcoin to Die Off Anytime Soon
WSJ: How MDMA Went From Club Drug to ‘Breakthrough Therapy’
Few Problems With Cannabis for California
Cyprus bourse scraps banking index after bailout