Collingswood Tries to Shake Junk Bond Status
Meets with investment rating agency over downgrade
Moody’s Investors Service lowered Collingswood’s bond rating on Monday because of the town’s heavy involvement with real estate development. Specifically, Moody’s is concerned about a deadline surrounding a condo development deal Collingswood helped finance. Today, Collingswood officials will meat with Moody’s in an attempt to sway the service’s opinion and have the downgrade reversed. [Houston Chronicle]
