Muni-Bond Investors Embrace Higher-Risk Issuers

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Muni-Bond Investors Embrace Higher-Risk Issuers
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The muni market is turning racier as investors reach for higher yields and deals with lower, or no, ratings

Ernesto Padron, 16, uses the ropes in gym class at the International Leadership of Texas. The fast-growing charter school system sold $357 million in unrated bonds last year.

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