Table of Contents
- How Did We Get Here?
- How Does S&P Global Ratings Incorporate The Rate Change Into Its Analysis of USPF Issuers?
- What S&P Global Ratings Expect The Transition From LIBOR To Look Like
- Related Research
Key Takeaways
- The London Interbank Offered Rate (LIBOR) is set to expire in December 2021.
- We continue to assess the financial exposure U.S. public finance (USPF) issuers face due to financing and hedging transactions tied to LIBOR
- We believe the low notional amount of LIBOR exposure relative to overall debt portfolios should limit the extent of financial pressures and credit implications for USPF issuers.