Introducing the U.S. Local Governments Credit Scenario Builder for

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Create illustrative ratings scenarios based on our rating framework and your assumptions.
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For more information on how to use the Credit Scenario Builder, please view our tutorial video here.

 

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FEATURED COMMENTARY

  • May 14, 2015

Standard & Poor's Ratings Services lowered its rating to 'A-' from 'A+' on the city of Chicago's outstanding general obligation (GO) bonds, and placed the ratings on CreditWatch with negative implications. In addition, Standard & Poor's affirmed its 'AAA/A-1+' rating on the city's existing variable rate demand bonds (VRDBs). The lowered rating reflects our view that short-term pressures are… More

  • Nov 17, 2014
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Recent Governmental Accounting Standards Board (GASB) proposals to change other postemployment benefits (OPEB) reporting could enhance the ability to compare OPEB liability across states. More

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  • Apr 09, 2015

CHICAGO (Standard & Poor's) April 9, 2015--After months of campaigning and uncertainty, Chicago (A+/Negative general obligation debt rating) can get back to the business of running itself. As such, we expect Mayor Rahm Emanuel's attention to be focused on the city's budget challenges, namely its ballooning pension obligation. During the course of the election -- and particularly during the runoff … More

SCHOOL & SPECIAL DISTRICTS

  • Mar 23, 2015

CHICAGO (Standard & Poor's) March 23, 2015--Standard & Poor's Ratings Services is closely monitoring the reaction of the Chicago Board of Education (CBOE; A-/Negative) to possible swap termination payments in excess of $200 million following the downgrade of its general obligation (GO) debt to below 'BBB' by a another rating agency. While we view the possible trigger payments as pressuring the… More

  • Mar 18, 2015
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CHICAGO (Standard & Poor's) March 18, 2015--Standard & Poor's Ratings Services said it lowered its long-term rating and underlying rating on Chicago Board of Education, Ill.'s general obligation (GO) bonds two notches to 'A-' from 'A+'. At the same time, we assigned our 'A-' rating to the board's series 2015 A, C, D, E, F, and G unlimited-tax GO dedicated alternate revenue bonds. The outlook is… More

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GENERAL COMMENTARY & RELATED MULTIMEDIA

  • Apr 02, 2015
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After letting up on the accelerator late in 2014 and early 2015, the U.S. economy looks poised to resume faster growth for the remainder of the year, according to Standard & Poor's economists. A harsh winter in the Midwest and Northeast contributed to some softening in the housing market, which acted as a drag on broader economic performance. Despite the winter's chilling effects, however,… More

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  • Feb 20, 2015

In early February, the newly elected Wayne Charter County, Mich., executive, Warren C. Evans raised concerns about the county's ongoing financial problems, highlighting liquidity concerns and the need for major structural fixes, without which a state takeover and bankruptcy could be considerations. Standard & Poor's Ratings Services views bankruptcy and a state takeover of the county as… More

  • Jan 28, 2015

California's finances are roaring back. Midway through the fiscal year, the state now expects its fiscal 2015 revenues to come in $2.6 billion—or 2.4%—higher than the budget assumed. History would suggest, however, that any fiscal renaissance will be temporary--the result of several favorable developments occurring simultaneously. More

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  • Apr 02, 2015
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In this CreditMatters TV segment, Standard & Poor’s Associate Director Carol Spain explains how declining oil prices and production could significantly affect cities in North Dakota, particularly in the Bakken Shale region. Watch

  • Jan 28, 2015

DALLAS (Standard & Poor's) Jan. 28, 2015--On Jan. 27, 2015, Standard & Poor's Ratings Services lowered its general obligation (GO) ratings on Atlantic City, N.J. to 'BB' from 'BBB+' and placed the rating on CreditWatch with negative implications. This rating action reflects our view of the state's recent appointment, by executive order, of an emergency manager and an emergency manager advisor. More

  • Apr 27, 2015

By most measures, U.S. state budget conditions are adequate to favorable--and they should be. Not only is the economic expansion mature at this point, it showed signs of accelerating during the middle of 2014. And yet, a majority of states--32 by our count--face budget gaps in either fiscal 2015, 2016, or both. More

  • Nov 17, 2014
  • Requires a subscription to RatingsDirect®

Recent Governmental Accounting Standards Board (GASB) proposals to change other postemployment benefits (OPEB) reporting could enhance the ability to compare OPEB liability across states. More

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  • Apr 14, 2015
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In this CreditMatters TV segment, Managing Director Gabe Petek explains how job gains, wage growth, and an improving housing market point to favorable credit conditions for many state and local governments across the U.S. this year despite ongoing risks. Watch

  • Mar 25, 2015

NEW YORK (Standard & Poor's) March 25, 2015--Standard & Poor's Ratings Services today said it is reviewing its rating on Atlantic City, N.J.'s general obligation (GO) bonds outstanding based on the Emergency Manager's 60-day report released March 23, 2015. The report does not directly reference bankruptcy. However, it does identify possible deferrals in debt service payments, which could occur as … More

  • Jan 28, 2015

BOSTON (Standard & Poor's) Jan. 28, 2015--Providing a precise measure of the U.S. public finance direct bank loan market is challenging for a variety of reasons—but primarily because bank loans are not explicitly required to be disclosed because they are not securities. Nevertheless, Standard & Poor's Ratings Services sees issuers across the breadth of the municipal finance market meaningfully… More

U.S. LOCAL GO CRITERIA COMMENTARY & MULTIMEDIA

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  • Jun 09, 2014
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The Credit Scenario Builder provides an easy-to-read overview of the seven criteria factors we use to rate U.S. local government general obligation pledges and allows the user to create multiple scenarios for illustrative issuer credit ratings. This video provides a basic overview of how to use the … Watch

  • Sep 12, 2013

Standard & Poor's Ratings Services is updating its methodology and assumptions for assigning issuer credit ratings (ICRs) and issue credit ratings based on general obligation (GO) pledges of local governments in the United States. More

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