Title: Enhancing the creditworthiness of municipal bonds : innovations from Mexico
Abstract: In 2001-03 the municipal bond market in Mexico was among the most active in the developing world. Government officials had found a way to dramatically enhance the creditworthiness of local government debt without using sovereign guarantees. The technique, adapted in part from private sector 'future flow' financing deals, enabled a state or local government to earn significantly higher credit ratings for bond issues than for its normal balance sheet debt. Many other developing countries have turned to Mexico as a source of innovation that may have application in their own markets.
Publication Year: 2008
Publication Date: 2008-08-01
Language: en
Type: preprint
Access and Citation
Cited By Count: 15
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot