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 16,262.56 0.55
Arrow Nasdaq 4,034.16 0.29
Arrow S&P 1,842.98 0.68
Arrow FTSE 6,541.61 0.64
Arrow DAX 9,173.71 1.77
Arrow CAC-40 4,345.35 0.83
Arrow Nikkei 13,996.81 0.62
Arrow H.Seng 22,671.26 1.60
Arrow Sensex 22,484.93 0.64





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln