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Moody's Sees More California Cities Going Bankrupt

One of the nation's top credit rating agencies said Friday it will begin a wide-ranging review of municipal finances in California because of what it sees is a growing threat of increased city bankruptcies and bond defaults.

Moody's Investors Service issued a report saying that the growing fiscal distress in many cities in the nation's most populous state was putting bondholders at risk

Source: AP. Read full article. (link)

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