Moody's warns municipal interest-rate swaps
Moody's issues guidance on municipal interest-rate swaps
Moody's Investors Service cautioned states and municipalities that use interest-rate swaps as part of their borrowing program to be prepared to manage the risk of unplanned expenses related to the agreements. In a 30-page report on how it rates issues, Moody's said it looked at the potential impact of a swap on a local government's cash flow and whether it had the resources to terminate a money-losing contract.
Bloomberg (10/10)
posted by Victor Lloyd Smith @ 10:32 AM
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