TITLE

Nine Months Later, Market Still 'Skittish' About Louisiana Bonds

AUTHOR(S)
Fine, Jacob
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/26/2006, Vol. 356 Issue 32390, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on the performance of Louisiana bonds in the U.S. bond market. About nine months after Hurricane Katrina devastated the Louisiana coast, Louisiana bonds are still trading at higher yields in comparison to other U.S. states. Municipal Market Data reported that 10-year uninsured Louisiana general obligation (GO) bonds were yielding 4.3 1% earlier in the last week of May 2006, which is higher than any of the other 40 major issuing U.S. states. Louisiana GO bonds are rated A2 by Moody's Investors Service and A by both Standard & Poor's and Fitch Ratings. According to Matt Fabian, a senior municipal research analyst at UBS Financial Services Inc. in New York, Louisiana state GO bonds represent an extremely safe investment that he considers underrated.
ACCESSION #
21043152

 

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