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Moody's: municipal credit quality deteriorating. (News & Numbers).(Moody's Investors Service)
According to a recent report by Moody's Investors Service, municipal bond market downgrades are approaching parity with upgrades for the first time in a decade. During the first quarter of 2003, there were 90 ratings upgrades and 84 ratings downgrades for a ratio of only 1.1 to 1. The dollar value of the downgrades outweighed the upgrades by a ratio of 2.4 to 1.
Until the first quarter of this year, upgrades had outnumbered downgrades by a significant margin for 10 years. Now the downgrades may actually surpass the upgrades. "Given the weak first quarter results, this ratio could reverse this year, especially if geopolitical uncertainty persists and economic recovery continues to stall," the report said.
As expected, the financial stress experienced at the state level is now trickling down to the local level. Diluted tax revenues and reduced investment income have led to growing fiscal deficits and pension shortfalls for state governments. To balance their budgets, many states have reduced local aid levels, leaving many local governments contemplating ...
- A.M Best special report: life/health rating upgrades outnumbered downgrades in...
- Magazine article from: Best's Review March 1, 2005 700+ words
In 2004, the life/health insurance industry experienced improved operating earnings and balance sheet strength, with A.M. Best Co.'s rating upgrades outnumbering downgrades by a slight margin. A.M. Best's year-end ratings outlook for the industry was stable. A combination of poor earnings or
- A.M. Best Special Report: Life/Health Rating Upgrades Outnumbered Downgrades in...
- Press release article from: Business Wire January 31, 2005 700+ words
OLDWICK, N.J. -- In 2004, the life/health insurance industry experienced improved operating earnings and balance sheet strength, with A.M. Best Co.'s rating upgrades outnumbering downgrades by a slight margin. A.M. Best's year-end ratings outlook for the industry was stable, according to a special
- Moody's: turbulent years ahead for nonprofit hospital sector.(Moody's Investors...
- Magazine article from: The Bond Buyer Kruger, Daniel September 10, 1997 700+ words
...enjoying a respite last year, according to a report by Moody's Investors Service. Cost-cutting and consolidation paid off in 1996 as upgrades outnumbered downgrades, but now the sector must face up to Medicare and Medicaid spending...
- Moody's says 1991 had many upgrades, but cautions on 1992. (Moody's Investors...
- Magazine article from: The Bond Buyer Boyle, Nicholas January 10, 1992 700+ words
Moody's Investors Service yesterday announced that it upgraded more municipal issues...obligations and tax-supported bond upgrades by Moody's outnumbered downgrades by 153-to-145, and revenue upgrades totaled 91, compared...
- ILLINOIS: Stable Credit Forecast.
- Magazine article from: The Bond Buyer Shields, Yvette January 14, 2004 700+ words
...pressures on their revenue streams, according to a special report published last week by Moody's Investors Service. "Upgrades outnumbered downgrades six to two during 2003, representing a modest level of overall rating changes for the sector...
- CMBS: Year-to-Year Issuance Slows.
- Magazine article from: National Mortgage News October 16, 2000 700+ words
...reported that ratings upgrades outnumbered downgrades in the sector this year...Capital cited Moody's Investors Service data that shows that during...rating agencies. Moody's Investors Service, for example, has been...
- Fitch Investors Service Inc. announces rating actions.
- Press release article from: PR Newswire March 7, 1986 700+ words
...March 7 /PRNewswire/ -- Fitch Investors Service Inc. has announced the following...TELEPHONE CORP. RATINGS AFFIRMED Fitch Investors Service today affirmed its "AA+" rating...OF ILLINOIS RATINGS AFFIRMED Fitch Investors Service today affirmed its "AAA" rating...
- Wright Investors' Service Announces Restructuring of Worldscope Partnership
- Press release article from: PR Newswire October 16, 1996 700+ words
...Oct. 16 /PRNewswire/ -- Wright Investors' Service announced today that it has restructured...Worldscope was created in 1985 by Wright Investors' Service, after 25 years of research and...Corporation, joined with Wright Investors' Service to market Worldscope." The Worldscope...