Challenges Facing Municipal Analysts

Christopher J. Mier

Municipal Finance Journal, 2010, vol. 30, issue 4, 1 - 22

Abstract: The collapse of the bond insurance industry, the prospect of the worst recession since World War II, and the rapidly changing involvement of the federal government in the private sector present a unique set of challenges for municipal analysts, the likes of which have never before been experienced. For the first time, analysts must consider highly unusual credit influences, such as the costs cities face in handling the escalating level of home foreclosures, the impact of collapsing commodities prices on resource-rich areas, and the differential credit impact of deflation. The article discusses the many new questions that analysts must consider and describes new strategies analysts many want to implement in reaching solid evaluations of credit quality.

Date: 2010
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