The Build America Bond program ended in December, but some think its expiration could be part of what?s hurting municipal bond exchange traded funds (ETFs).
President Obama recently signed a stopgap measure that would reduce $4 billion from current government spending. He called for Congress to find a way to keep the government funded through Sept. 30 or face a government shutdown, writes Lynn Humme for Bond Buyer. Moody?s Investor Service stated that a shutdown of more than 30 days would negatively impact credit on certain muni bonds ... but they probably won?t default.
Moody?s report does not mention Build America Bonds and other direct-pay bonds. Anne Van Praagh, the Moody?s group credit officer, remarks that the ?approach to rating BABs is that (they) evaluate the issuer?s ability to pay debt service with or without the subsidy,? and most issuers will be able to pay debt service on BABs if
Complete Story »
Kristanna Loken Aubrey ODay Drew Barrymore Marley Shelton Thalía
No comments:
Post a Comment