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Importance of a national scale credit ratings for sub-national authorities that borrow long term (English)

Long term financing for infrastructure projects can be costly for sub-national authorities. However, some authorities obtain better terms for their financing than others from financial institutions. ... See More +

Brief 73642 JUL 01, 2012

Gallo,Joshua Mathias; Painter,David Disclosed

The advantages of structured financing for sub-national authorities (English)

In principle, sub-national authorities have several financing models to choose from for their infra-structure projects. A common model involves the authority taking a long term loan from a bank. ... See More +

Brief 73640 JUL 01, 2012

Gallo,Joshua Mathias; Painter,David Disclosed

The importance of sub-national authorities avoiding foreign exchange risk when borrowing long-term (English)

It has become an internationally recognized best practice to match the repayment term of long term debt financing to the expected useful life of the infrastructure financed; sometimes 15 years or more. ... See More +

Brief 73641 JUL 01, 2012

Gallo,Joshua Mathias; Painter,David Disclosed

Enabling environment for sub national government debt (English)

The enabling environment is the national government's legal, regulatory, and institutional framework and debt market conditions that govern sub-national governments' (SNGs) borrowing. ... See More +

Brief 73643 JUL 01, 2012

Darche,Benjamin; Gallo,Joshua Mathias Disclosed

Partial credit guarantees for sub-national transactions (English)

A partial credit risk guarantee (PCG) provides comprehensive cover to sub-national governments' (SNGs) lenders in the event the SNG fails to make debt service payments on their debt, or when any default occurs, for any reason. ... See More +

Brief 73644 JUL 01, 2012

Darche,Benjamin; Gallo,Joshua Mathias Disclosed