Libor-Based Benchmarks Could Weaken Credits, S&P Says

McDonald, Michael
February 2003
Bond Buyer;2/21/2003, Vol. 343 Issue 31577, p6
Trade Publication
Cites a report by credit rating company Standard & Poor's Corp. regarding concerns over municipal market's exposure to London InterBank Offering Rate (Libor)-based interest rate swaps on credit quality of the market. Impact of synthetic fixed-rate swap on issuers; Difference between Libor-based synthetic swap rate and municipal swap index.


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