Upgrades to muni ratings ‘optimistic’, investors warn

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Investors have voiced concerns about proposed upgrades to the credit ratings of municipal bond issuers, after Fitch Ratings and Moody’s Investors Service announced changes to the ways in which state and local governments are rated.

Fitch said on March 25 it was recalibrating its US public finance credit ratings, which would result in upgrades. From April 5, state and local general obligation ratings will be adjusted upward two notches if currently rated A, and one notch upward if rated A+ or high

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