U.S. Public Finance Report Card: States Weather Credit-Market Disruptions, But Are Likely To Step Up Borrowing As Economy Slows Jul 08

  • ID: 1806384
  • July 2008
  • Region: United States
  • Standard & Poors
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  • Alabama
  • Florida
  • Kentucky
  • Missouri
  • North Carolina
  • State of Washington
  • MORE

States have not been impervious to disruptions in the credit markets in the past year despite their generally solid credit profiles. Many states with auction-rate securities have had to reposition or restructure their outstanding debt as demand in that market evaporated. More than $10 billion of state-related debt has been restructured. The use of derivatives continues to be part of the overall debt strategy for many states and the disruptions in the credit markets have also caused a handful of states to terminate a number of their swaps. Fortunately, most states were relatively conservative with the structuring of their variable-rate securities and had proactively developed plans to reposition their debt with minimal financial impact up to this point. Still, state...

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- Virginia
- Utah
- Texas
- Tennessee
- South Carolina
- Rhode Island & Providence Plantations
- Pennsylvania
- Oregon
- Oklahoma
- Ohio
- North Carolina
- New York State
- New Mexico
- New Jersey
- Nevada
- Montana
- Missouri
- Mississippi
- Minnesota
- Michigan
- Massachusetts
- Maryland
- Maine
- Louisiana
- Kentucky
- Illinois
- Idaho
- Hawaii
- Georgia
- Florida
- Colorado
- California
- Alaska
- Alabama
- Arizona
- Arkansas
- Indiana
- Iowa
- Kansas
- Nebraska
- New Hampshire
- North Dakota
- South Dakota
- Vermont
- State of Washington
- West Virginia
- Wisconsin
- Wyoming
- Delaware
- Connecticut

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