Municipalities Facing A Credit And Refinancing Crunch

From The Wall Street Journal article "New Hit to Strapped States: Borrowing Costs Up as Bond Flops; Refinancing Crunch Nears" by Michael Corkery And Ianthe Jeanne Dugan:

With the market for municipal bonds tumbling, cities, hospitals, schools and other public borrowers are scrambling to refinance tens of billions of dollars of debt this year, another sign that the once-safe market is under duress.

The muni bond market was hit with the latest wave of bad news Thursday, prompting a selloff that sent the market to its lowest level since the financial crisis.

Read the complete article here.