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State defaults in the United States are instances of states within the United States defaulting on their debt. The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [1]
By 1841, nineteen of the twenty-six U.S. states and two of the three territories had issued bonds and incurred state debt. [1] Of these, the aforementioned states and territory were forced to default on payments. Four states ultimately repudiated all or part of their debts, and three went through substantial renegotiations. [2]
This is a list of U.S. states by credit rating, showing credit ratings for sovereign bonds as reported by the three major credit rating agencies: Standard & Poor's, Fitch and Moody's. The list is given as of May 2021.
A default would occur if the U.S. failed to pay bondholders who have lent money to the government. The United States has never defaulted on its debts. That’s part of why U.S. Treasury bonds are ...
A default may affect the United States' sovereign risk rating and the interest rate that it will be required to pay on future debt. As of 2012, the U.S. defaulted on its financial obligations once in 1979, due to a computer backlog, but the periodic crises relating to the debt ceiling have led several rating agencies to United States federal ...
Due to an over-issued national bond amounting to more than twice as GDP, bank accounts were blocked (bank blockade ) [2] Kuwait: 1990–91 [2] Lebanon: 2020: Lebanon defaulted on US$1.2 billion in Eurobonds. [7] Myanmar: 1984 [2] 1987 [2] Mongolia: 1997–2000 [2] North Korea: 1975–1990 [8] Sri Lanka: 2022: 2019–present Sri Lankan economic ...
The U.S. needs to keep borrowing to fund expenditures, and a default would make that stop immediately. Internationally, the U.S. dollar is where countries keep their currency for international ...
The odds that the U.S. will default on its debt on or after Aug. 2 increase each day. Some credit analysts now believe the chances are better than even that insolvency could become a reality.