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- Title
Not All Refinancings Are Created Equal: A Framework for Assessing State and Local Government Debt Refinancing Measures.
- Authors
Luby, Martin J.
- Abstract
In this ongoing era of fiscal stress, state and local governments have increasingly turned to financial measures to help balance their budgets. One financial tactic commonly employed is debt refinancing. This article details the common refinancing strategies employed by state and local governments. Based on these strategies, typical refinancing transaction types are constructed and evaluated based on an assessment framework that relies on four debt refinancing principles developed in this article. Based on this assessment framework, the article concludes with a series of general recommendations for state and local governments to consider when refinancing debt.
- Subjects
REFINANCING; PUBLIC debts; MUNICIPAL finance; FINANCING of state governments; LOCAL government finance; MUNICIPAL budgets; U.S. state budgets; FINANCIAL management
- Publication
State & Local Government Review, 2014, Vol 46, Issue 1, p52
- ISSN
0160-323X
- Publication type
Article
- DOI
10.1177/0160323X13520434