Marvelous Monrovia! Well, let me explain. Six months ago Monrovia was on a list of ten California cities that could be next to declare bankruptcy. Today, while doing a story about how what happens with Detroit's bankruptcy proceedings could affect us here in California, I spoke with the City Manager of Monrovria. He told me that back in May the city was facing a lawsuit that caused Standard and Poors to downgrade it's rating. Not good for the small LA County city. Last week, tho, that lawsuit was settled and now they tell me S & P is going to upgrade their rating. In today's world of financial ups and downs, and seemingly it's mostly "downs," it's nice to be able to report that a city that was facing a very bad situation has apparently seen it's fortunes improve. To city officials in Monrovia this is, no doubt, marvelous!
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