Water Scarcity a Bond Risk, Study Warns

New York Times: The municipal bonds that help finance a major portion of the nation's water supply may be riskier than investors realize because their credit ratings do not adequately reflect the growing risks of water shortages and legal battles over water supplies, according to a new study. As a result, investors may see their bonds drop in value when these risks become apparent, and water and electric utilities may find it more expensive to raise money to cope with supply problems, the study ......

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