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San Bernardino Bankruptcy May Start Trend for California Cities: Moody's

News Link • Economy - Economics USA

San Bernardino Bankruptcy May Start Trend for California Cities: Moody's

08-09-2012 • Reuters

The recent bankruptcy filing by San Bernardino, California, underscores the financial stress faced by cities in the state and the potential that more might seek Chapter 9 protection from their creditors, Moody's Investors Service said on Thursday.

San Bernardino is the third city in the most populous U.S. state to file for bankruptcy since late June, following the example of larger Stockton and the mountain resort town of Mammoth Lakes.

Read Full Story

Reported by Powell Gammill

•

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Tags: recent, bankruptcy, filing, bernardino, california, underscores, financial, stress, cities, potential, chapter, protection, creditors, moodys, investors, service, thursday

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