NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases a research report discussing the state of Texas’ financial ability to withstand the current drop in oil prices, due to OPEC’s decision to increase oil production.
Compounding the economic shock of the coronavirus disease (COVID-19), the global economy experienced a second punch from a collapse in oil prices, driven by a game of nerves between Russia and Saudi Arabia. In this report, KBRA examines the state of Texas, whose increasingly diversified economic base and substantial financial reserves make it well positioned to manage short- and medium-term disruptions to its energy industry and the overall economy.
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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
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