The Financial Impact from The Big Freeze is Just Heating Up
The true fiscal outcome on local governments, electric, and water utility credit quality in the region is likely to be impactful on select entities, and the final financial toll could be enormous in some cases.
Rating agency activity is a strong possibility as a result of last week’s weather events for some public finance entities in the affected region.
Last week’s events reinforce the importance of ongoing support for infrastructure and maintenance. Currently, Governor Abbott is asking the state legislature to mandate the winterization of Texas’ power system.