Explain how an underfunded public pension fund can affect the debt rating of a city or state.

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Financial Markets and Institutions

ISBN: 978-1337099745

12th edition

Authors: Jeff Madura

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Question Posted: Oct 31, 2017 08:14 AM

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Explain how an underfunded public pension fund can affect the debt rating of a city or state.

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Underfunded pensions can cause large budget deficits The credit rating agencies downgra...View the full answer

Financial Markets and Institutions

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