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Pensions, Debt May Have More Weight in Moody's U.S. Muni Ratings
Reuters Link to more items from this source
Aug. 14, 2013

"The proposed changes would reflect just how much pension liabilities affect finances of local governments ... Currently, debt and pensions make up about 10 percent of a Moody's rating of a local government's general obligation bonds, which are repaid with tax revenues and have the government's full faith and credit. Under the proposed change, the weighting of debt and pensions would rise to 20 percent. Moody's said ... that the greater emphasis also recognizes that both pensioners and debtholders have 'enforceable claims on the resources of local governments.'"

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