How low can we go?

Bonds at base junk rating- al.com

Well, not any lower, if I read this right. S&P now rates the sewer bonds at “D”, which is both a grade and the first letter of “default”, which is what they consider the county to be in. The county says that that’s not fair, that they have an agreement with the creditors to pay interest. At any rate… Largest municipal bankruptcy in history, here we come!

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