RED BANK BONDS SHRUG OFF MOODY’S MOOD
Wall Street debt-rating agency Moodys may take a negative view of Red Bank’s fiscal situation, but investors don’t, town officials said Tuesday night.
Councilman Mike DuPont, who heads the borough’s finance committee, said investors had snapped up $5.4 million worth of bonds offered in a recent refinancing. The followed Moody’s report at the end of October, which said that its Aa3 rating on $25.2 million worth of general-obligation bonds could be downgraded if recent fiscal strain continues.