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Taxation

Moody's: Sandy May Impact Utilities but Not U.S. Debt

NOV 5, 2012 1:36pm ET

The nearly $30 billion in economic damages caused by Hurricane Sandy will not have a detrimental effect on the creditworthiness of U.S. debt, but it is likely to have negative consequences for mid-Atlantic electric utility companies.

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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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