San Marcos Redevelopment Bonds Downgraded

About $800 million in redevelopment bonds have been downgraded by Moody’s in four local San Diego County cities in response to the coming termination of redevelopment agencies.

“The downgrade primarily reflects near-term cash flow risks arising from legislation recently upheld by the California Supreme Court that dissolves all redevelopment agencies,” Moody’s said in its statement. Affected locally are three bonds issued by Oceanside, four by San Marcos.

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