Investors who have piled into US municipal debt face a series of rating downgrades on their bonds next year, a leading credit rating agency is warning.
一家主要信用评级机构警告称，蜂拥涌入美国市政债券市场的投资者明年或将面临所持债券的信用评级频繁遭到下调的风险。
Fitch says that local government is still far from a recovery from the effects of the financial crisis and recession on the US economy. The agency expects to downgrade dozens or hundreds of issuers in 2013.
惠誉(Fitch)表示，美国地方政府距离从金融危机以及美国整体经济衰退的影响中恢复过来仍很遥远。该机构预计，2013年数十甚至上百个市政债券发行方将有信用评级下调风险。
The forecast, in the annual outlook report published
惠誉在今日发布的年度预测报告中所做的上述预测或令很多投资者感到失望，这些投资者大举买入市政债券的举动已使此类债券的收益率水平降至45年以来的最低点。
today, could disappoint investors whose buying spree has pushed yields on muni bonds
惠誉指出，地方政府的房产税收入仍将处于较低水平，原因是作为房产税计税基础的住房估值水平仍处于下行调整中。公共部门养老金缴款则有必要增加，以填补2008年金融市场崩溃时形成的缺口。