Munis Downgraded –

Standard and Poor’s downgraded over 11,000 municipal bonds that are closely tied to the federal government.  The downgrades in the muni market were expected after Standard and Poor’s downgraded U.S debt last Friday.  The munis will now have the AA+ credit rating. 

To read a related Bloomberg article, please click here:

http://www.bloomberg.com/news/2011-08-09/s-p-says-many-munis-can-keep-aaa-after-downgrade-of-11-500-linked-to-u-s-.html

James Sutliff