S&P Begins Downgrading Municipalities

"Standard & Poor's has begun to downgrade states and municipalities Monday morning after stripping the federal government of its 'AAA' rating.

While not unexpected, the move has far-reaching implications for thousands of local governments already burdened by steep deficits.

Among those affected so far:

• Tacoma, WA.
• Atlanta Downtown Development Authority, GA.
• The Board of Governors of the University of North Carolina
• Miami, FL.

Additional federal debt was also downgraded, including some issued by The Architect of the Capitol and the Department of Transportation..."

at http://www.businessinsider.com/sp-downgrades--municipalities-2011-8?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29#ixzz1USbgwz00