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BRIEF-S&P says sanctuary jurisdictions will not face immediate credit risk from federal cuts
March 30, 2017 / 4:17 PM / in 9 months

BRIEF-S&P says sanctuary jurisdictions will not face immediate credit risk from federal cuts

March 30 (Reuters) - S&P Global Ratings

* s&p - sanctuary jurisdictions will not face an immediate credit risk from federal cuts

* s&p - “federal funding can represent a sizable share of municipal budgets, averaging 9 percent of local government spending in 2015 for jurisdictions we analyzed”

* s&p - loss of federal funding can adversely affect reserve and budget levels, could lead to rating action if local government cannot mitigate lost federal funding

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