moodys

Government & Politics
4:16 pm
Fri August 17, 2012

Moody's: More California Cities Could Declare Bankruptcy

Joe Moore Valley Public Radio

More California cities may file for bankruptcy and default on bonds in the coming months, according to a report released today by a major credit rating agency.

In a report titled “Why Some California Cities Are Choosing Bankruptcy” Moody’s Investors Service warned that the risk of more municipal bankruptcies in the state has gone up.

So far this year, three California cities have filed for bankruptcy, Stockton, San Bernadino and Mammoth Lakes.

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