Moody's Investors Service downgraded 290 municipal issuers from April 1 through June 30, the most for any quarter since 2000, led by cities and school districts still recovering from the longest recession since the 1930s.

It was the 14th-straight quarter that downgrades exceeded upgrades, Moody's said in a report today. There were 4.4 downgrades for every rating raised. The cuts include the 90 California redevelopment authorities reduced by the New York- based rating company.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access