Find the latest episode of "The Uncertain Hour" here. Listen

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. 

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.