The prepay delay

Municipal prepayment deals, an important market structure allowing US municipalities to secure substantial discounts on long-term gas contracts, have been hit hard by the US credit crunch. Several large deals have stalled in recent months due both to downgrades in investment bank credit ratings and Federal Reserve interest rate cuts denting the economics of the deals.

As the credit crunch reins in activities at investment banks, international oil companies such as BP and Shell are gaining an adva

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: