S&P: 'Crisis Proportions' For Pensions

Vadum, Matthew
January 2005
Bond Buyer;1/24/2005, Vol. 351 Issue 32055, p1
Trade Publication
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.


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