All
 

 

Just in:  

You are here: Home»World»Business & Economy»Moody's lowers Contra Costa Co., Calif. pension obligation bonds

0001SAN FRANCISCO: Moody's Investors Service downgraded on Wednesday its rating on $359 million of Contra Costa County, California 2001 and 2003 pension obligation bonds to A1 from Aa3, noting concerns about the county's inability to raise taxes for debt service.

 

"The downgrade to the pension obligation bonds reflects the nature of this type of debt which is unsecured and paid from any of the county's funds, pressured by factors which affect financial performance such as steeply rising service costs," Moody's said in a statement.

 

"The pension obligation bonds are an unconditional county obligation payable from any legally available funds," Moody's added. "However, the county does not have the ability or authority to raise taxes to meet debt service."

Copyright Reuters, 2013


 



 
Index Closing Chg%
Arrow DJIA 17,598.20 0.52
Arrow Nasdaq 5,115.38 0.25
Arrow S&P 2,098.04 0.25
Arrow FTSE 6,688.62 0.11
Arrow DAX 11,443.72 1.19
Arrow CAC-40 5,120.52 0.75
Arrow Nikkei 20,548.11 0.11
Arrow H.Seng 24,411.42 0.91
Arrow Sensex 28,187.06 0.26





New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk



Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln