Enhancing the Creditworthiness of Municipal Bonds : Innovations from Mexico

Leigland, James; Mandri-Perrott, Cledan

Enhancing the Creditworthiness of Municipal Bonds : Innovations from Mexico

collection.link.179	https://openknowledge.worldbank.org/handle/10986/9410
collection.name.179	Gridlines
dc.contributor.author	Leigland, James
dc.contributor.author	Mandri-Perrott, Cledan
dc.date.accessioned	2012-08-13T12:15:49Z
dc.date.available	2012-08-13T12:15:49Z
dc.date.issued	2008-08
dc.date.lastModified	2021-04-23T14:02:51Z
dc.description.abstract	In 2001-03 the municipal bond market in Mexico was among the most active in the developing world. Government officials had found a way to dramatically enhance the creditworthiness of local government debt without using sovereign guarantees. The technique, adapted in part from private sector 'future flow' financing deals, enabled a state or local government to earn significantly higher credit ratings for bond issues than for its normal balance sheet debt. Many other developing countries have turned to Mexico as a source of innovation that may have application in their own markets.	en
dc.identifier	http://documents.worldbank.org/curated/en/2008/08/9988449/enhancing-creditworthiness-municipal-bonds-innovations-mexico
dc.identifier.uri	http://hdl.handle.net/10986/10598
dc.language	English
dc.publisher	World Bank, Washington, DC
dc.relation.ispartofseries	Gridlines; No. 39
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo/
dc.subject	ACCOUNTABILITY
dc.subject	ADEQUATE ASSURANCES
dc.subject	AFFORDABLE INTEREST RATES
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEET DEBT
dc.subject	BANK LENDING
dc.subject	BOND ISSUANCES
dc.subject	BOND ISSUES
dc.subject	BOND SALES
dc.subject	BONDHOLDERS
dc.subject	BORROWER
dc.subject	BORROWINGS
dc.subject	CAPITAL MARKETS
dc.subject	CAPITALIZATION
dc.subject	CAR LOANS
dc.subject	CASE OF DEFAULT
dc.subject	CASH FLOWS
dc.subject	CENTRAL GOVERNMENTS
dc.subject	COLLATERAL
dc.subject	COMMERCIAL BANKS
dc.subject	CONTINGENT LIABILITY
dc.subject	CREDIT ENHANCEMENTS
dc.subject	CREDIT RATING
dc.subject	CREDIT RATING AGENCIES
dc.subject	CREDIT RATINGS
dc.subject	CREDIT STANDING
dc.subject	CREDIT STRENGTH
dc.subject	CREDITORS
dc.subject	CREDITWORTHINESS
dc.subject	CURRENCY
dc.subject	DEBT ISSUANCE
dc.subject	DEBT OBLIGATIONS
dc.subject	DEBT REPAYMENT
dc.subject	DEBT REPAYMENTS
dc.subject	DEBT SECURITIES
dc.subject	DEBT SERVICE
dc.subject	DEBT SERVICE PAYMENT
dc.subject	DEBT SERVICE PAYMENTS
dc.subject	DEBTS
dc.subject	DECENTRALIZATION
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING COUNTRY
dc.subject	DEVELOPMENT BANK
dc.subject	ECONOMIC GROWTH
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKET DEBT
dc.subject	EXISTING ASSETS
dc.subject	FACE VALUE
dc.subject	FINANCES
dc.subject	FINANCIAL ADVISORS
dc.subject	FINANCIAL AUTONOMY
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL HEALTH
dc.subject	FINANCINGS
dc.subject	FUTURE DEBT
dc.subject	GENERAL OBLIGATION
dc.subject	GENERAL OBLIGATION BORROWING
dc.subject	GENERAL OBLIGATIONS
dc.subject	GOVERNMENT DEBT
dc.subject	GOVERNMENT EXPENDITURE
dc.subject	GOVERNMENT REVENUE
dc.subject	HOME MORTGAGES
dc.subject	IMPLICIT GUARANTEE
dc.subject	IMPLICIT GUARANTEES
dc.subject	INFRASTRUCTURE BONDS
dc.subject	INTEREST RATES
dc.subject	INTERGOVERNMENTAL TRANSFERS
dc.subject	INTERNAL CREDIT ENHANCEMENTS
dc.subject	INTERNATIONAL CAPITAL
dc.subject	INTERNATIONAL CAPITAL MARKETS
dc.subject	INTERNATIONAL FINANCE
dc.subject	INTERNATIONAL SETTLEMENT
dc.subject	LENDERS
dc.subject	LOAN
dc.subject	LOAN AGREEMENTS
dc.subject	LOAN SIZE
dc.subject	LOCAL ADMINISTRATION
dc.subject	LOCAL GOVERNMENT
dc.subject	LOCAL GOVERNMENT BORROWER
dc.subject	LOCAL GOVERNMENT BORROWERS
dc.subject	LOCAL GOVERNMENT DEBT
dc.subject	LOCAL GOVERNMENT REVENUE
dc.subject	LOCAL GOVERNMENTS
dc.subject	LOW INTEREST RATES
dc.subject	MONOPOLY
dc.subject	MORAL HAZARD
dc.subject	MUNICIPAL
dc.subject	MUNICIPAL BOND
dc.subject	MUNICIPAL BOND ISSUANCE
dc.subject	MUNICIPAL BOND ISSUES
dc.subject	MUNICIPAL BOND MARKET
dc.subject	MUNICIPAL BONDS
dc.subject	MUNICIPAL BORROWERS
dc.subject	MUNICIPAL BORROWING
dc.subject	MUNICIPAL BUDGETS
dc.subject	MUNICIPAL DEBT
dc.subject	MUNICIPAL GOVERNMENTS
dc.subject	MUNICIPALITIES
dc.subject	OUTSTANDING DEBT
dc.subject	PAYMENT MECHANISMS
dc.subject	PENSION
dc.subject	PENSION FUND
dc.subject	PENSION FUNDS
dc.subject	PRIVATE FINANCIAL INSTITUTIONS
dc.subject	PRIVATE INFRASTRUCTURE
dc.subject	PUBLIC FINANCE
dc.subject	PUBLIC-PRIVATE PARTNERSHIP
dc.subject	PUBLIC-PRIVATE PARTNERSHIPS
dc.subject	RECEIVABLES
dc.subject	RESERVE
dc.subject	RESERVE ACCOUNTS
dc.subject	REVENUE BONDS
dc.subject	REVENUE INTERCEPTS
dc.subject	RISK OF DEFAULT
dc.subject	SECURITIES
dc.subject	SOVEREIGN DEBT
dc.subject	SOVEREIGN GUARANTEES
dc.subject	SUBNATIONAL FINANCE
dc.subject	SUSTAINABLE DEVELOPMENT
dc.subject	TAX
dc.subject	TAX REVENUES
dc.subject	TECHNICAL ASSISTANCE
dc.subject	TELEPHONE SERVICE
dc.subject	TRADABLE SECURITIES
dc.subject	TRANSACTION
dc.subject	TRANSACTION COSTS
dc.subject	TURNOVER
dc.subject	URBAN DEVELOPMENT
dc.title	Enhancing the Creditworthiness of Municipal Bonds : Innovations from Mexico	en
okr.doctype	Publications & Research :: Brief
okr.doctype	Publications & Research
okr.docurl	http://documents.worldbank.org/curated/en/2008/08/9988449/enhancing-creditworthiness-municipal-bonds-innovations-mexico
okr.globalpractice	Social, Urban, Rural and Resilience
okr.globalpractice	Governance
okr.globalpractice	Finance and Markets
okr.globalpractice	Trade and Competitiveness
okr.googlescholar.linkpresent	yes
okr.identifier.externaldocumentum	000333038_20081102233807
okr.identifier.internaldocumentum	9988449
okr.identifier.report	46263
okr.language.supported	en
okr.pdfurl	http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/11/02/000333038_20081102233807/Rendered/PDF/462630BRI0Box31nnovations1in1Mexico.pdf	en
okr.region.administrative	Latin America & Caribbean
okr.region.country	Mexico
okr.topic	Finance and Financial Sector Development :: Access to Finance
okr.topic	Private Sector Development :: Emerging Markets
okr.topic	Finance and Financial Sector Development :: Bankruptcy and Resolution of Financial Distress
okr.topic	Finance and Financial Sector Development :: Debt Markets
okr.topic	Urban Development :: Municipal Financial Management
okr.unit	Public-Priv Infra Advsry Fcility (PPIAF)
okr.volume	1 of 1

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