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Recent Market Stress Has Little Effect On California Investment Pools Oct 07 Product Image

Recent Market Stress Has Little Effect On California Investment Pools Oct 07

  • Published: October 2007
  • Standard & Poors

FEATURED COMPANIES

  • Alameda
  • Fresno
  • Marin Cnty
  • Placer Cnty
  • San Diego Cnty
  • Santa Clara
  • MORE

Abstract
Recent turmoil in the global capital markets, including sharply curtailed fixed-income asset liquidity resulting in depressed values, has in some cases migrated into the investments of California government entities. As demonstrated by the Orange County bankruptcy experience in 1994, investment holdings and practices by California county investment pools have credit implications for both the counties and for the local government pool participants. In response to the bankruptcy, the state heightened investment restrictions, guidelines, and reporting requirements. Furthermore, many county governments adopted policies or practices that meet or exceed state requirements in favor of additional conservatism. As things stand, based on a mid-year survey that we conducted, we do not anticipate material credit effects on California local governments stemming from investments...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key READ MORE >

- San Bernardino
- San Diego Cnty
- San Diego
- San Francisco City & Cnty
- San Luis Obispo
- Santa Barbara
- Santa Barbara Cnty
- Sonoma Cnty
- Tulare Cnty
- Riverside
- Riverside Cnty
- Sacramento
- Fresno
- Los Angeles
- Los Angeles Cnty
- Santa Clara
- Santa Clara Cnty
- Solano Cnty
- Napa Cnty
- Mendocino Cnty
- Alameda Cnty
- Kern Cnty
- Contra Costa Cnty
- Fresno Cnty
- Santa Cruz
- San Mateo
- Ventura Cnty
- Marin Cnty
- Alameda
- Santa Cruz Cnty
- Orange Cnty
- Stanislaus Cnty
- Merced
- Monterey Cnty
- Placer Cnty
- Del Norte Cnty
- Kings Cnty
- Sonoma
- Yuba Cnty
- Butte Cnty
- Amador Cnty

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