This publication examines the influence of credit ratings on public debt financing and helps to resolve some of the developing controversy concerning this subject. It investigates the rating activities of the two private investment advisory firms--Moody's and Standard & Poor's--and the use of ratings by governmental borrowers, investors,…

This special issue addresses many of the more salient aspects of municipal finance. Colin Blaydon and Steven Gilford survey a number of social and economic issues that lie at the heart of any attempt to deal meaningfully with the current urban crisis. Donna Shalala and Carol Bellamy focus on the state's attempts to meet the financial emergency…