SA News • Jun. 25, 2012
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Jun. 25, 2012, 4:40 PMIn conjunction with the Moody's bank downgrades last week was a ratings cut on about $5.4B of preferred securities issued by some closed-end municipal bond funds. The move could ripple through the industry, possibly raising borrowing costs for the funds should money-market holders of the preferred be forced to sell. | Comment!
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