(updated 8/10/11 – newest resources listed first)
The ripple effect of last week’s historic downgrade of the U.S. Government’s credit rating by Standard & Poor’s has yet to unfold, but state and local government credits are bracing for what could be even rockier roads ahead. The Wall Street Journal reports that fifteen states could stand to lose their AAA rating due to their heavy reliance on federal spending programs and/or because they are home to thousands of federal employees.
The stream of articles, documents, and statements in response to the downgrade and its possible impact on state and local governments is just beginning. MuniNetGuide.com has compiled the following list of resources to help you zero in those that succinctly address the ratings action and its possible implications for the municipal market:
- Standard & Poor’s: United States of America Long-Term Rating Lowered to AA+ (full report on the U.S. downgrade)
- Municipal Securities Rulemaking Board: MSRB Notice 2011-40 – MSRB Advises Dealers on Certain Obligations in Light of Potential Municipal Ratings Actions
- Washington Post: S & P to Assess Impact of U.S. Debt Downgrade on Local and State Governments, Fannie and Freddie