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S&P Credit Research3121 word report
published Feb 20, 2008
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S&P Credit Research
| Abstract: | After some tumultuous times in 2001 and 2002, U.S. state pension plans have recovered in recent years with the help of growing investment returns. The funded ratio, or actuarial value of assets divided by the actuarial accrued liabilities (AAL), is one measure of the health of a pension fund. Funding for 2007 will likely improve as complete data becomes available, but Standard&Poor's Ratings Services believes that any improvement could be short-lived if recent market volatility persists and shrinks investment returns. The status of an employer's pension plan is an important factor in our state ratings analysis. States face a variety of ongoing and chronic costs that at any point could weaken their ability to meet their bonds' debt
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| Brief Excerpt: | RESEARCH Ratings Definitions Market Volatility Could Shake Up State Pension Funding Stability Publication date: 20-Feb-2008 Primary Credit Analysts: Robin Prunty, New York (1) 212-438-2081; robin_prunty@standardandpoors.com Peter...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
