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Bell's bonds downgraded to junk status

Aug 11, 2010 3:00:00 AM - latimes.com
Standard & Poor's lowers the city's rating to BB, meaning the security is considered inappropriate for investors who can't afford the risk of loss. The action is expected to increase borrowing costs.

The city of Bell's borrowing power took a significant hit Tuesday, when Standard & Poor's Ratings Services downgraded the beleaguered city's bonds to junk status because of its inability to pay off a looming $35-million debt.

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