Moody’s downgrades Jefferson County’s sewer credit rating for the second time this month- al.com
They cut the hell out of the bond rating, all the way to Caa3, six notches below where it was and only two above the lowest junk rating. They also cut the rating for other county debt, though none of that is down to junk status yet.
2 responses so far ↓
e. nonee moose // March 28, 2008 at 10:55 am
Makes me think of Dumb and Dumber…
“That’s as good as money sir, those are IOUs”
links for 2008-03-29 // March 30, 2008 at 10:06 am
[...] Thomason Tracts: Bonds now essentially IOUs written on used napkins [...]
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