Treasury
High Flood, Wildfire Risks Scored For Municipal Bond Offerings This Week
Multiple municipal bond offerings this week have a strong exposure to climate risk, specifically to floods and wildfires, according to ICE Climate Data.A $50 million offering from Ocean City, New Jersey, records a flood risk score of 5.0 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 $39 million bond deal from Murrieta Valley Unified School District, California, has a wildfire risk score of 5.0 out of 5.0 on ICE's scale, while a $7 million tranche from Harris County MUD No. 532 in Texas, records an acute physical risk score of 5.0.A $35 million offering from Carlsbad Municipal School District, New Mexico, records a combined physical risk score of 3.1, and a $6 million deal from Kimball County, Nebraska, has a combined physical risk score of 3.0 due to its 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.