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Los Angeles' bond rating downgraded

Jul 13, 2011 12:05:50 AM- latimes.com
Moody's Investor Service dropped the city's bond rating by one notch to reflect a modest revenue forecast and mounting employee costs.

Just when Los Angeles officials thought they had turned a corner in improving the city's recession-riddled financial standing, a major Wall Street rating agency Tuesday downgraded its bonds.

USA, California: (Latest Stories)