Reuters logo
U.S. states' debt growth slowed to 1.3 pct in 2012 -Moody's
May 30, 2013 / 6:53 PM / 4 years ago

U.S. states' debt growth slowed to 1.3 pct in 2012 -Moody's

SAN FRANCISCO, May 30 (Reuters) - Growth in outstanding debt issued by U.S. states slowed to 1.3 percent in 2012, well below the 7 percent average annual growth of the past 10 years and the recent peak of 10 percent in 2009, Moody’s Investors Service said on Thursday.

The rating agency in a report said it expects the pace of growth in state debt to continue to be slow following three consecutive years of declines.

“Legal debt limitations, state-level austerity spending, and anti-debt sentiment have reduced states’ appetite for new money borrowing,” said Baye Larsen, a Moody’s vice president and senior analyst. “Additionally, debt plans have been influenced by uncertainty regarding federal fiscal policy and the impact of federal budget austerity on the national economy.”

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below