Pensions: Today's promises, tomorrow's credit challenges
As the retiree population quickly rises, the long-term impact of fixed costs are now quite evident pressuring sovereigns, state and local governments across the world to face their pension liabilities head on.
  • Reports
    272 Documents
    22 MAY 2020|Sector Profile|MOODY'S INVESTORS SERVICE
    A summary of important metrics and pension risks related to government credit quality across numerous US states.
    18 MAY 2020|Sector In-Depth|MOODY'S INVESTORS SERVICE
    With higher pension risks than before the last recession, many Illinois governments face difficult budget adjustments to accommodate pension costs, or risk constraining asset accumulation.
    14 MAY 2020|Issuer In-Depth|MOODY'S INVESTORS SERVICE
    The economic slowdown and the government's support measures will push public debt levels up further and an upcoming election will complicate efforts to reverse this fiscal deterioration.
    01 MAY 2020|Issuer Comment|MOODY'S INVESTORS SERVICE
    Dallas no longer faces the risk that key pension benefit reforms will be overturned, providing a measure of near-term certainty for its pension system's asset base.
    24 APR 2020|Sector In-Depth|MOODY'S INVESTORS SERVICE
    Low interest rates and investing at or near a market bottom may increase the appeal of pension obligation bonds, but governments must accept higher exposure to investment market volatility.
    17 APR 2020|Issuer Comment|MOODY'S INVESTORS SERVICE
    A court has ordered the territory to contribute $63 million to pensions. Even if the territory follows the order, its pension system will soon be insolvent, likely triggering a restructuring
    24 MAR 2020|Sector Comment|MOODY'S INVESTORS SERVICE
    Without a reversal, market losses will compound already elevated pension liabilities and greatly increase costs. Concurrently, revenue risks stemming from Coronavirus fallout are high.
    03 FEB 2020|Sector Comment|MOODY'S INVESTORS SERVICE
    Ohio's largest retirement system enacted numerous retiree healthcare benefit cuts, a credit positive move that will lower liabilities for the state and participating local governments.
    28 JAN 2020|Sector Comment|MOODY'S INVESTORS SERVICE
    Costs from rail traffic disruptions and ticket reimbursements will weigh on the earnings and operating margins of both entities in 2019, especially those of RATP.
    20 DEC 2019|Issuer Comment|MOODY'S INVESTORS SERVICE
    Hall County Superior Court ruling in favor of Hall County is a credit positive as it upholds modifications to the county's pension plans.