April 1, 2020 – No, it’s not an April Fool’s joke! In what is believed to be an unprecedented rating action by a major rating agency, S&P Global Ratings has revised ALL of its sector outlooks in U.S. Public Finance to “negative”.

At the start of 2020 all sector outlooks were stable with the exception of higher education, ports, and mass transit. The revision in outlook reflects S&P’s expectation of sharp decline in the economy through at least the second quarter, uncertainty about the rate of spread and peak of COVID-19 as well as the timing of economic recovery.

Contact Jumanne Johnson at JJohnson@buymuni.com.