U.S. states, cities and counties are taking longer to file regular financial reports, leaving bondholders in the dark and adding to pressure on prices. S&P Global Ratings last month withdrew its ratings for 30 cities, counties and other municipalities because they haven’t yet filed their 2020 financial statements. The ratings company also placed New Orleans on credit watch in April for late reporting, the largest city analysts can recall incurring that sanction in more than a decade.
Source: WSJ.com: Markets
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