State and Local

Downgrade hits UNC

Standard & Poor’s (S&P) released a list of downgraded bonds following  the organization’s decision to revise its credit worthiness rating of the U.S. government.  Last week S&P lowered the rating from  AAA to AA+.  Among the the downgraded bonds listed by S&P  are four series held by the Board of Governor’s of the University of North Carolina.  The change is likely to add signficantlly to the interest costs UNC and taxpayers must pay to finance projects.



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