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Muni-bond downgrades are rare, even with few spared the pandemic’s impact

September 15, 2020

Includes “… ‘Does it make sense that we have a once-in a century pandemic and the rating agencies haven’t done anything?’ said Vikram Rai, a municipal-bond analyst at Citigroup Inc. ‘They know about the deterioration. They just haven’t acted on it.’ …  Rai speculated that rating companies have held back from downgrades, waiting to see whether Congress passes another stimulus package and for the results of the presidential election. … Blake rejected Rai’s contention, saying Moody’s ratings are based on economic data not political assumptions. …”

Read the full article on: Crain’s Chicago Business

 
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