Dick Larkin's Palm Beach Post Weekly Column: State Muni Bonds Ratings

Monday, Jan 9, 2017

Dick Larkin
Director of Credit Analysis
Stoever Glass & Co., Inc.
P: (862) 432-8818
E: dlarkin@stoeverglass.com


State general obligation bonds offer the safest returns in the municipal bond industry. Statistically, the U.S. is in its 8th year of economic recovery. In times like this, all boats usually rise with the tide. But in 2016 alone, Standard and Poor’s raised only two state ratings (Hawaii & Tennessee), but downgraded 8 states (Alaska, Connecticut, Illinois, Kansas, New Jersey, New Mexico, North Dakota and West Virginia). That’s a decline of 16% of state ratings, when the average downgrade rate for all municipal bonds is approximately 5% per year.

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