"Moody's Investors Service said on Monday ... that according to its estimate, the total liabilities for fiscal 2010 were more than three times the amount reported by local governments.... Moody's is seeking public comment through the end of August on four major changes it plans to make in how it treats pension liabilities.... Cities and counties are likely to see downgrades, [Managing Director Timothy Blake] said. That is partly because some liabilities in state pension plans that also cover localities will be allocated to the specific local governments. Currently, some of those liabilities might not be broken out by the individual city, town or school that is part of a state plan."