In the municipal bond market, announcements of changes in general obligation bond ratings by the rating agencies are typically made con­currently with announcements of new bond issues. Hence, prior research on the information content of municipal bond rating change announcements is subject to...

This article explains how event methodology can be applied in municipal finance research. Event methodology examines the impact of specific events on the rate of return on financial securities and can be utilized to study the impact of political, legal, and economic events on municipal bond...