TITLE

S&P: 'Crisis Proportions' For Pensions

AUTHOR(S)
Vadum, Matthew
PUB. DATE
January 2005
SOURCE
Bond Buyer;1/24/2005, Vol. 351 Issue 32055, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article presents findings from a report issued by Standard & Poor's Corp. highlighting the growing unfunded pension liabilities. The report's findings have implications for the municipal bond market. The credit ratings of government bonds typically are dependent on the ratings of the governments issuing them, and many states are turning to taxable bonds to reduce their unfunded pension liabilities. At the same time, intense spending pressures related to climbing health care and education costs are compounding the problem.
ACCESSION #
15795963

 

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