Climate change risk could lower a city’s credit rating

Ryan Kailath Oct 26, 2017
HTML EMBED:
COPY

Climate change risk could lower a city’s credit rating

Ryan Kailath Oct 26, 2017
HTML EMBED:
COPY

Credit agencies Moody’s and Standard & Poor’s recently put out reports laying out this scenario: federal disaster spending drying up while damages from increasing disasters continue to rise. If cities, counties or states are left more on their own to fund rebuilding after natural disasters like hurricanes, they could have a lot of trouble managing their finances. That risk needs to be calculated into municipal bond ratings, the agencies say, to better reflect the risks that disaster-prone areas face, whether it’s superstorms, floods, wildfires or drought.

Click the audio player above to hear the full story. 

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.  

Half-priced hoodies! 😲 

This weekend only, get our new Marketplace zip up hoodie when you donate $8/month instead of $16/month. Don’t wait this offer ends at midnight Sunday!