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S&P cuts Huntington Park pension obligation bonds to 'A-'
October 23, 2012 / 10:11 PM / 5 years ago

S&P cuts Huntington Park pension obligation bonds to 'A-'

Oct 23 (Reuters) - Standard & Poor's Ratings Services on
Tuesday cut the ratings of the city of Huntington Park,
California's pension obligation bonds to A-minus from A-plus.
    The outlook is negative.
    S&P said that the city failed to budget and appropriate any
lease payments for Huntington Park Public Financing Authority's
series 2004A revenue refunding bond debt service costs and that
failure caused a recent draw on surety reserves for the bonds.

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