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A Look At U.S. State And Local Governments As Joint Committee Deadline Nears Nov 11
Standard & Poors, Nov 2011
Abstract
Standard & Poor's Ratings Services has received numerous inquiries from market participants about its views of the effect on state and local government credit quality of federal deficit reduction efforts. Our rating on the U.S. federal government is 'AA+/Negative'. As our ratings definitions indicate, the negative outlook on the U.S. federal government rating reflects our view that the possibility is at least one in three that the rating will be lowered during a two-year time horizon. Standard & Poor's rating criteria for U.S. states and local governments do not impose a rating cap relative to the sovereign rating, and no ratings or outlooks have been changed that are based on the stand-alone credit quality of U.S. public finance obligors in...
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 factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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