Show threadCelloMom On CarsAug 1, 2023

"It’s only 15 years since S&P, Moody’s, and Fitch famously misjudged the #SubprimeMortgage market that triggered the 2008 financial meltdown. Now, they’re under fire for underestimating potential #climate losses in a rating system more tuned to the near term.

As for the $3.8 trillion #US #MunicipalDebt market: “no US municipal issuer’s credit rating has been changed because of #ClimateChange risk.”"

#ClimateRisk
https://www.bloomberg.com/news/articles/2023-08-01/ratings-firms-struggle-to-quantify-climate-risks-in-bond-market

Ratings Firms Struggle With Climate Risk in $133 Trillion Market

Global warming is poised to increase borrowing costs for cities, countries and companies as record heat waves emerge worldwide.

Bloomberg
PhoenixSerenityMar 18, 2023

#PrinceRupert has around $600 million in #MunicipalDebt with half of that due to #water #infrastructure including a #DamProject the city hopes would reduce the number of #BoilAdvisories it's been seeing.
#Mayor Herb Pond said the $65-million #funding is the largest #investment #BCgovernment has made in the city.
https://www.cbc.ca/amp/1.6783336

#NorthernBC #BritishColumbia #Canada #BCPoli

B.C. invests $65M for water system upgrades in Prince Rupert

On Friday, Premier David Eby announced his government is giving Prince Rupert, home to about 14,000 residents, $65 million to replace sections of the city's water distribution system.

CBC