State and local governments experiencing times of fiscal surplus and strong credit ratings should be careful not to ignore certain bond structures that came around to bite issuers during the global financial crisis a decade ago. That’s according to Dave Sanchez, director of the Securities and Exchange Commission’s Office of Municipal Securities, speaking at the Government Finance Officers Association’s 4th annual Minimuni conference. Sanchez returned to lead the office this year after serving as an attorney fellow from 2010 to 2013, and noted the stark contrast in the financial conditions of state and local governments from then to now.
Source: The Bond Buyer
