Mamtek Credit Rating Drops

7 years 1 month 3 weeks ago Friday, September 23 2011 Sep 23, 2011 Friday, September 23, 2011 6:26:37 PM CDT September 23, 2011 in News
By: The Associated Press

ST. LOUIS (AP) -- A credit rating agency has downgraded bonds the city of Moberly issued for a troubled project to produce artificial sweetener in central Missouri. Moberly guaranteed $39 million in bonds for the plant. Mamtek U.S. Incorporated planned to employ several hundred people, but the company laid off its employees and missed its first bond payment. A reserve fund was used to pay bondholders.

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