Standard & Poor's said in a report that a subpar economic recovery — too slow to naturally boost fiscal conditions for most obligors — took its toll across U.S. public finance ratings during the third quarter of 2012.

The report said Standard & Poor's rating actions in the sector tipped into negative territory, reversing the more positive balance of rating actions in the first two quarters.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.