In the wake of the Great Recession, many state and local governments saw either actual changes or threats to have their credit ratings reevaluated by the credit rating agencies such as Moody’s. Credit ratings are the basis for determining the borrowing cost of government, similar to your individual credit score. In this Discussion, you will review the extent of the most recent credit rating changes across state and local governments.
Post a summary of the proposed credit rating change you researched, the justification for the change by the credit rating agency, and the implications for the government unit. Your initial post should be 300 words.
Just some helpful references:
- Public Budgeting Systems (9th ed.)
- Chapter 13: Capital Assets: Planning and Budgeting, Analysis, and Management (pp. 451–488)
- Chapter 14: Capital Finance and Debt Management (pp. 489–542
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