Cyber attacks

The U.S. and European Commission moved Saturday to disconnect Russia from a global financial system.

“Compromised systems can directly affect public finance entities in the near term,” says Fitch's Omid Rahmani, citing ransomware risks.

In the last decade Omid was involved in cyber security issues.

Cyber criminals threaten the safety of patients and the financial health of hospitals. The life-and-death stakes underscore the importance of online security.

Cyberattacks pose rising operational costs and can hinder revenue generation for hospitals and health systems eventually leading to rating hits, Fitch warns.

S&P’s Tiffany Tribbitt and Geoffrey Buswick talk with Chip Barnett about what municipalities can do to counter the growing threat of cyber attacks and what steps cities and states can take after an incident happens. (15 minutes)

Alan Rubin, principal, Blank Rome Government Relations

Rating agencies are pushing municipal issuers to build online security risks like ransomware attacks into mitigation strategies that include more transparency.

The transit agency's acknowledgment of an intrusion set off loud alarm bells about the rising threat of public-issuer system hacks.

The $6.8 million, three-year agreement with IBM includes hardware, software and services to design, install, operate and maintain a cyber center that will connect all the port's users to the system.