Multiple municipal bond offerings this week have a strong exposure to climate risk, specifically to floods and hurricanes, according to ICE Climate Data.
A $17 million offering from Oceanside Union Free School District, New York, records a flood risk score of 3.7 out of 5.0, ICE reports.
Locations with a component Physical Climate Risk Score of 2.0 or higher out of 5.0 indicate high physical climate risk due to hurricane, flooding, or wildfire events.
A $25 million bond deal from Naples, Florida, has a hurricane risk score of 4.0 out of 5.0 on ICE's scale, while a $25 million tranche from Iberia Parish School District, Louisiana, records an acute physical risk score of 2.9.
A $5 million offering from Brazoria County MUD No. 55 in Texas, records a combined physical risk score of 3.6, and a $31 million deal from Weld County School District No. RE-8, Colorado, has a combined physical risk score of 2.4 due to their proximity to weather-related events, according to ICE Climate Data.
This content is created byand includes certain data sourced from ICE Climate Data ("ICE"). Views ofdo not necessarily represent the views of ICE. ICE is not a nationally registered statistical rating organization, nor should this commentary be construed to constitute an assessment of the creditworthiness of any company or financial instrument or as providing investment advice. Climate analytics available from ICE are meant to be generally indicative of overall feature sets but should not be considered an analyst's opinion of the underlying investability of a particular location or security.