S&P Global Ratings occasionally receives questions from market participants regarding how it assesses the loss coverage capability of U.S. long-term municipal pools such as state revolving funds, bond banks, and permanent school funds. Our approach to assigning a loss coverage score (LCS) is specified in the “U.S. Public Finance Long-Term Municipal Pools: Methodology And Assumptions,” July 26, 2024, (see framework graphic). Here, we address some of the most frequently asked questions.
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14-Oct-2025 | 15:41 EDT