With Build America Bonds at the forefront of the municipal market, Fitch Ratings is concentrating on the treatment of the federal subsidy and bond structure as two key credit considerations in its ongoing analysis of the taxable debt, according to a report being released today.

David Litvack, managing director and group credit officer of U.S. public finance at Fitch, said the agency  took up the issue now because BABs are gaining in popularity among issuers looking to broaden their investor base.

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