Moody's Assigns Provisional Ba2 Rating to New Hampshire’s Bond Project
Cointelegraph
Moody's has assigned a provisional Ba2 speculative-grade rating to New Hampshire's upcoming Bitcoin-backed municipal bond project.Summary
Moody's Investors Service has issued a provisional Ba2 rating for New Hampshire's pioneering Bitcoin-backed municipal bond. This rating, categorized as speculative grade, reflects the significant credit risk associated with Bitcoin's inherent market volatility. The project, approved by the New Hampshire Business Finance Authority, aims to issue $100 million in bonds, allowing companies to borrow against overcollateralized Bitcoin held by BitGo Trust Company Inc. While the rating is a critical step toward market entry, it highlights the ongoing challenges of integrating volatile digital assets into traditional municipal finance.
(Source：Cointelegraph)