Inside Long Island Business
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Moody's may downgrade LIPA credit rating
Photo credit: AP
Moody's Investor Service said Monday it will review the credit rating of the Long Island Power Authority for a possible downgrade, citing the recent slew of trustee resignations, the cost to repair damaged systems after superstorm Sandy, and weak financial standing as its main concerns.
LIPA currently has an A3 credit rating, or upper medium investment grade. The utility has faced severe criticism...
