Report title: Impact Of The Credit Crisis And Weaker Economy On State Governments
from Moody's Global Credit Research
8 page (3836 word) report published Oct 23, 2008

Price $550.00 available for immediate download
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About Moody's Global Credit Research

...In April 2008, Moody s revised its outlook for the U.S. state gov ernment sector to negative. The economy has weakened substantially since then, compounded more recently by a severe credit and liquidity crisis. While the credit market slump poses short-term risks for some states, particularly ones that rely on cash flow borrowing, the long-term credit quality of states will be more challenged by the current economic downturn. Already weak state revenues are expected to decline further during the next year, particularly per sonal income and sales taxes. During the next 12 months, leaner finances will compel states to balance their budgets through expenditure reductions, the use of reserves and other non-recurring actions, as well as the possibility of revenue enhancements. Moody s continues to maintain a negative outlook on the state government sector as a whole. In addition, Moody s curr ently has negative outlooks on six states. Despite these outlooks and the challenges...

Report Type: Special Comment
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