Central Falls, Woonsocket among riskiest municipal bonds

Central Falls and Woonsocket made a list of risky-investment cities that could file for bankruptcy, Barron’s reports. More

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Central Falls, Woonsocket among riskiest municipal bonds

COURTESY THE BLACKSTONE VALLEY TOURISM COUNCIL
CENTRAL FALLS and Woonsocket municipal bonds are risky investments, Barron's reported Monday
Posted 7/29/13

NEW YORK – Central Falls and Woonsocket made a list of risky-investment cities that could file for bankruptcy, Barron’s reports.

The list published Monday by S&P Dow Jones Indices gauges risk by bond yields, using the metric that higher-yield bonds are riskier. The two Rhode Island cities’ municipal bonds rank among the highest yields in the country, alongside cities in Illinois, Pennsylvania and Texas, as well as the Northern Mariana Islands.

Central Falls regained full control of its finances in April following a bankruptcy declaration in 2010, at which point a state-appointed receiver took over the city’s books.

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