(Editor’s Note: S&P Global Ratings believes there is a high degree of unpredictability around the duration and scale of the Middle East war and its potential effect on commodity prices, supply chains, economies, and credit conditions. As a result, our baseline forecasts carry a significant amount of uncertainty. As situations evolve, we will gauge the macro and credit materiality of potential shifts and reassess our guidance accordingly. )
This report does not constitute a rating action.
Key Takeaways
- U.S. public finance (USPF) issuers are exposed to supply chain risks through evolving labor market dynamics, federal policy and regulatory shifts, and geopolitical tensions that may lead to higher costs, budgetary strain, and increased debt.
- Consistent with other evolving market risks, we analyze an issuer’s risk identification, mitigation strategies, management oversight, and financial flexibility to determine potential rating implications.
- Issuers demonstrating proactive management, strong financial resilience, and adaptability in the face of supply chain disruptions are more likely to demonstrate broader risk preparedness and maintain credit quality.
09-Apr-2026 | 09:08 EDT