With the market for municipal bonds tumbling, cities, hospitals, schools and other public borrowers are scrambling to refinance tens of billions of dollars of debt this year, another sign that the once-safe market is under duress.Read the complete article here.
The muni bond market was hit with the latest wave of bad news Thursday, prompting a selloff that sent the market to its lowest level since the financial crisis.
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Friday, January 14, 2011
Municipalities Facing A Credit And Refinancing Crunch
Posted By Milton Recht
From The Wall Street Journal article "New Hit to Strapped States: Borrowing Costs Up as Bond Flops; Refinancing Crunch Nears" by Michael Corkery And Ianthe Jeanne Dugan:
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