Includes “Over the last year, the credit agency upgraded 41 percent of local governments’ ratings, drawing skepticism from some. As rating agencies, following the financial crisis, have sought to maintain their credibility, the divergence between the ratings that those agencies have doled out to governments has increased. Over the last year the number of issuers that have one rating from Moody’s Investors Service and a different one from Standard & Poor’s (so-called split ratings) has increased to nearly half, or 46 percent of all investment-grade rated municipal bonds. Much of the focus has been on S&P, which over the past year has upgraded about 1,600 local governments’ ratings as it has applied its new scoring criteria. …” note, see this entry at Bill’s Blog at Truth in Accounting
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