Special Report

U.S. Downgrade and Munis

Here, you’ll find ongoing coverage about how the fallout from the downgrade of the U.S. continues to affect the municipal market.

Los Angeles Boots S&P Pool Rating

City Angry Over Downgrades

By Randall Jensen |  Aug 17

SAN FRANCISCO - Los Angeles has dropped Standard & Poor's from rating its $7 billion investment portfolio after the agency downgraded it along with the United States last week.  [Free]

U.S. Downgrade

Muni-Friendly Comments Give Market a Push

By Patrick McGee |  Aug 11

Higher borrowing costs for state and local governments as a result of the sovereign downgrade? Hardly. Or at least: not yet.

Bond Insurers

Return of Triple-A Insurers Unlikely

Treasury Exposure A Huge Roadblock

By Taylor Riggs |  Aug 11

The municipal bond insurance world will not be directly affected by the U.S. Treasury downgrade, according to municipal analysts. However, the likelihood of the bond insurers regaining their AAA status when the U.S. does not hold that title anymore is very slim.  [Free]

U.S. Downgrade

Confident Despite Psychological Blow

Mixed Emotions Abound in Market

By Christine Albano |  Aug 10

Calm, yet cautious. Skeptical and apprehensive. Unfazed. Those are the mixed emotions that both retail and institutional investors have amid all the speculation and uncertainty swirling through the municipal market following last week's unprecedented downgrade of the U.S. by Standard & Poor's.  [Free]

To Market's Relief, S&P Keeps Credits Independent

By Patrick McGee |  Aug 10

When Moody's Investors Service warned of a possible downgrade to the United States' sovereign credit last month, it said hundreds of triple-A muni credits ¯ including five of the 15 states it rates Aaa ¯ could likely follow.

Munis Waiting for the Other Shoe to Drop

MSRB Warns Dealers on Pricing

By Joan Quigley |  Aug 09

WASHINGTON - If dealers take advantage of disruption in the financial markets to manipulate prices of municipal securities, they will be violating federal law, the Municipal Securities Rulemaking Board warned Monday.

Pros Wonder What U.S. Downgrade Means for Munis

Speculation on Impact Abounds

By Patrick McGee |  Aug 09

Nobody knows exactly what the long-term impact of the United States losing its AAA rating from Standard & Poor's means for municipal bonds, but that didn’t stop the experts from speculating.  [Free]

S&P Begins Dropping a Broad Range of Muni Bonds

By Patrick Temple-West |  Aug 09

Standard & Poor's began downgrading municipal bonds Monday, giving market participants a sense of the broad impact its downgrade of U.S. debt will likely have on the muni market.  [Free]

S&P Rolls Out Muni Downgrades

By Gavin Murphy |  Aug 09

Standard & Poor's on Monday began cutting ratings for municipal bonds directly linked to the U.S. government’s credit rating.

U.S. Downgrade Will Have Impact on Munis

By Gavin Murphy |  Aug 06

The downgrade of the U.S. by Standard & Poor's to AA-plus from AAA will reverberate through the municipal bond market.