The outlook for U.S. states and local governments remains negative, Moody's says, citing a weak...

|By:, SA News Editor

The outlook for U.S. states and local governments remains negative, Moody's says, citing a weak economy and ongoing withdrawal of federal support. Though Moody's believes "rating downgrades will continue to outpace upgrades," bond defaults and Chapter 9 bankruptcy filings are expected to remain rare.