Tags: Moodys | Credit | Ratings | States | Factor | Unfunded | Pensions

NYT: Moody’s to Include Unfunded State Pension Liabilities

Thursday, 27 Jan 2011 06:53 AM

Moody’s Investgors Service plans to include unfunded pension liabilities into its credit rating for U.S. states’ debt, the New York Times reported, citing Robert Kurtter, managing director for public finance at Moody’s.

States haven’t included those liabilities until now, prompting growing unease among investors in municipal bonds, the newspaper said.

The new system will be comparable to the way Moody’s now rates corporate and sovereign debt, the newspaper said.

States with the highest total indebtedness include Connecticut, Hawaii, Illinois, Kentucky, Massachusetts, Mississippi, New Jersey and Rhode Island, as well as Puerto Rico, the Times reported.

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Moody s Investgors Service plans to include unfunded pension liabilities into its credit rating for U.S. states debt, the New York Times reported, citing Robert Kurtter, managing director for public finance at Moody s. States haven t included those liabilities until now,...
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