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Ratings Woes

Wayman

MARYVILLE, MO (2011-08-11)

Ratings agency Moody's issues a warning, this time to local governments and states, that the nation's debt could cause "Significant Stress" on the local level.

Moody's classifies some municipal bond issuers as "Somewhat weaker" this week than before the large sell-offs on Monday. But Maryville city manager Matt Lecurf disagrees. He says he doesn't see any problems with local governments finding people to buy bonds to fund municipal projects.

Standard and poor's issued a statement saying they think state and local governments can support ratings above that of the now downgraded national level.

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