-

KBRA Releases Research – Potential Impact of Tariffs on Municipal Credit

NEW YORK--(BUSINESS WIRE)--KBRA releases a research report exploring the potential impact of trade tensions and tariffs on debt-issuing municipal entities in the U.S. These entities issue debt payable from the levy of a tax (i.e., tax-supported) or end-user fees and charges (i.e., revenue-supported).

While to date KBRA has observed no direct impairment of municipal credit quality solely as a result of the federal government’s evolving stance on trade, the inflationary nature of tariffs can constrain revenues and increase costs over the longer term, potentially leading to diminished financial flexibility.

Click here to view the report.

About KBRA

KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1009089

Contacts

Douglas Kilcommons, Managing Director
+1 646-731-3341
douglas.kilcommons@kbra.com

Karen Daly, Senior Managing Director
+1 646-731-2347
karen.daly@kbra.com

Media Contact

Adam Tempkin, Senior Director of Communications
+1 646-731-1347
adam.tempkin@kbra.com

Business Development Contacts

William Baneky, Managing Director
+1 646-731-2409
william.baneky@kbra.com

James Kissane, Senior Director
+1 646-731-2380
james.kissane@kbra.com

Kroll Bond Rating Agency, LLC

Details
Headquarters: New York City, New York
CEO: Jim Nadler
Employees: 400+
Organization: PRI

Release Versions

Contacts

Douglas Kilcommons, Managing Director
+1 646-731-3341
douglas.kilcommons@kbra.com

Karen Daly, Senior Managing Director
+1 646-731-2347
karen.daly@kbra.com

Media Contact

Adam Tempkin, Senior Director of Communications
+1 646-731-1347
adam.tempkin@kbra.com

Business Development Contacts

William Baneky, Managing Director
+1 646-731-2409
william.baneky@kbra.com

James Kissane, Senior Director
+1 646-731-2380
james.kissane@kbra.com

Social Media Profiles
More News From Kroll Bond Rating Agency, LLC

KBRA Mourns the Loss of Marcia Tannian, Director of Finance and Investor Relations at the MTA

NEW YORK--(BUSINESS WIRE)--KBRA is deeply saddened to share the news of the passing of Marcia Tannian, Director of Finance and Investor Relations at the Metropolitan Transportation Authority (MTA). Marcia was not only a valued colleague and client, but also a true friend to our organization. Throughout her distinguished career, Marcia exemplified professionalism, dedication, and leadership. Her tireless efforts at the MTA were instrumental in advancing one of the most critical transportation ne...

KBRA Releases Research – CMBS Loan Performance Trends: April 2025

NEW YORK--(BUSINESS WIRE)--KBRA releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the April 2025 servicer reporting period. The delinquency rate among KBRA-rated U.S. private label CMBS in April increased to 7.1% from 6.8% in March. The total delinquent plus current but specially serviced loan rate (collectively, the distress rate) increased 25 basis points (bps) to 10%. Other than the industrial sector, all major property types continue...

KBRA Assigns Preliminary Ratings to GCAT 2025-NQM1 Trust

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from GCAT 2025-NQM1 Trust, a $438.2 million non-prime RMBS transaction. The underlying collateral, comprising 764 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation. Borrowers in the subject pool possess a non-zero WA original credit score of 756 and exhibit modest equity in each mortgaged property, with WA LTV...
Back to Newsroom