Moody's to overhaul municipal bond ratings

Credit rating agency Moody's will start rating municipal debt on the same scale as corporate debt, a senior executive announced this week.

Speaking in front of the US House Financial Services Committee on March 12, Laura Levenstein, a senior managing director in the public, project and infrastructure finance group at Moody's, said: "We have recently decided to assign global ratings to municipal issuers upon request."

Historically, municipal bonds have been much less risky than corporate bonds, but

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