Municipal Bond Credit Report: Wildfire’s destruction of California town creates uncharted credit territory

Municipal Bond Credit Report: The deadly wildfire that left the town of Paradise, California, in ruins may become a test case for the municipal bond market.“The situation casts doubt on whether the local government can meet over $3.5 million in annual payments to pension obligation bondholders, CalPERS and retiree healthcare plan participants,” wrote Marc Joffe, a policy analyst with the Reason Foundation…. Link to Story