The rise in cyber attacks against the US has mostly hit the public sector but the attacks so far had very little impact on the $3.8 trillion municipal debt market. No issuer has yet been a victim of cyber security threat. Now it is beginning to change slowly.
S&P Global has started quizzing the cities and states about the cyber defenses they have in place and it has actually made some credit analysis look into the factor that cyber security risks do exist when they are looking at the bonds. Now they are trying to figure out how to evaluate cyber risks.
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