IPFS News Link • Economy - Economics USA
San Bernardino Bankruptcy May Start Trend for California Cities: Moody's
• ReutersThe 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.
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