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In other words, general bonds will often be a cheaper way of raising money.However, these general bonds often require the explicit approval of voters.
It dropped New Jersey's grade from AA+ to AA on general bonds and lowered the rate for other types of debt.
Although inflation is an enemy of bonds in general, bonds financing projects supported by dedicated revenue, like those for sewers or bridges, can benefit from it.
And although Standard & Poor's says it will rate tobacco bonds as high as single-A (compared with the best possible rating of triple-A), the ordinary general bonds issued by most local governments typically get a higher rating.
In general, bonds rated BB or below are junk bonds (which are deemed at risk of default).
Similar(51)
Salt Lake City, $50 million of general obligation bonds and refunding bonds.
Hawaii, $460 million of general obligation bond and new refunding bonds.
Barclays Capital Inc. Mecklenburg County General, N.C., $212 million of general obligation bonds.
Davis School District, Utah, $68.5 million of general obligation bonds.
New York City, $650 million of taxable general obligation bonds.
Montgomery County, Tenn., $65 million of general obligation bonds.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com