The third quarter of 2015 marked 12 straight quarters in which Standard & Poor's Ratings Services upgraded more U.S. public finance ratings than were downgraded, making these three years the longest quarterly streak of upgrades outpacing downgrades since the first quarter of 2001, according to Standard & Poor's.
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"Despite the difficulties in a handful of specific sectors and isolated jurisdictions, the broad, ongoing U.S. economic recovery has generated higher fees, tax revenues, and job growth, benefiting many public finance issuers, and we expect this macroeconomic climate to last at least through early 2016," said Standard & Poor's analyst Larry Witte.
