Legal Alerts

Recalibrations to Begin in April

Moodys Investors Service has announced that it is in the process of recalibrating its long-term U.S. municipal ratings to its global rating scale used to rate sovereign, sub-sovereign, financial institution, project finance, structured finance and corporate obligations.

Moodys expects that this recalibration will result in an upward shift for most state and local government long-term municipal ratings by up to three notches. Moodys cautions that this should not be viewed as a rating upgrade, but “rather as a recalibration of the ratings to a different rating scale.”

Moodys expects the recalibration to begin in April. It will be implemented in stages and is expected to occur over a four-week period. Click here for more details.

If you have any questions, please contact an attorney in BBK's Public Finance practice group.

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