On Air Now

Current Show

Early Morning Journal   5:30 AM - 6:00 AM

The latest information to get your morning going on the Early Morning Journal

Show Info »

Upcoming Shows

Program Schedule »

Tune in to Listen

1590 AM Coldwater, Michigan 95.5 FM Coldwater, Michigan

Weather

Current Conditions(Coldwater,MI 49036)

More Weather »
47° Feels Like: 43°
Wind: WSW 8 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Rain 59°

Tonight

Mostly Clear 43°

Tomorrow

Mostly Sunny 60°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Moody's says Sandy will test municipalities' liquidity

Men stand near a boat which was pushed inland near destroyed homes in Brighton, New York on October 31, 2012. REUTERS/Adrees Latif
Men stand near a boat which was pushed inland near destroyed homes in Brighton, New York on October 31, 2012. REUTERS/Adrees Latif

NEW YORK (Reuters) - Massive storm Sandy might put strains on the liquidity of some municipalities facing unbudgeted costs related to clean-up and repairs, Moody's rating agency said on Thursday.

The Wall Street ratings agency said that although the track record of recovering from natural disasters is "extremely strong" for U.S. municipal issuers, there are risks.

Up-front clean-up costs may exceed budgeted contingencies, aid from higher levels of government could be delayed and insurance reimbursement could arrive too late, it said.

(Reporting by Tiziana Barghini; Editing by James Dalgleish)

Comments