Wednesday, April 08, 2009

In Which We Plumb Yet Another "First"...

The New York Times reports: Muni Bonds May Face Downgrade.

Moody’s Investors Service assigned a negative outlook to the creditworthiness of all local governments in the United States, the agency said Tuesday, the first time it had ever issued such a blanket report on municipalities.

There do seem to be an awful lot of "first times" these days, don't they?

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