Quality | 2011.04.26
Fitch: Transfer & PILOT Payments Can Affect Credit Quality in U.S. Public Power Sector
NEW YORK--(BUSINESS WIRE)--According to a new special report issued by Fitch Ratings today, as U.S. municipalities grapple with a difficult economic environment and the resultant financial stress, transfer payments from electric utilities have proven a reliable source of revenue for governments. The use and importance of transfer payments and similar tools such as payments in lieu of taxes (PILOTs) are not born out of the current economic crisis. However, the current environment sheds light on t
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