Moody’s downgrades city’s credit rating
Service cites risk of state aid cut in wake of pension ruling
By Dan Jacobson
The city’s bond rating has received a downgrade from Moody’s Investment Services, as a result of the risk of a state aid cut to municipalities — particularly the type of aid received by cities such as Asbury Park. Investors who buy bonds — basically, who are providing their money for a loan — look to […]
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May 12, 2015
