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Moody's Downgrades Minneapolis to Aa1 Over Fund Deficit.
Publication: The Bond Buyer Publication Date: 31-JUL-01 Author: Shields, Yvette
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COPYRIGHT 2001 SourceMedia, Inc.
Minneapolis' 40-year run in the triple-A category with Moody's Investors Service came to a halt Monday when a spike in a longstanding deficit in a city fund prompted the agency to knock the credit down a notch to Aa1.
"This is a very longstanding Aaa," Moody's analyst Diane Golub said of the city's rating that has been in place since 1961. "But this is a situation of really great magnitude." The agency's...
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