Friday, July 16, 2010

Durham refinances

While cities and municipalities across the county are in heaps of financial trouble, things are not so bad here in Durham, North Carolina. Earlier this month the city received approval from Standard & Poor's, Fitch and Moody's, the three big credit ratings agencies, to refinance up to $60 million in bonds at an AA+ credit rating. This will save Durham approximately $2.1 million in interest charges on bonds and other loans original made to the city in 1998, 2001 and 2008.

Thanks to the Durham Herald Sun for this note.

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