RED BANK BONDS SHRUG OFF MOODY’S MOOD

money-half-columnWall Street debt-rating agency Moody’s 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.

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