The City Creditworthiness Initiative has just completed a study of the 500 largest cities in the developing world. Our goal was to see how many have been rated and of those, how many are investment grade.
This is the first post in series that will be presenting the findings and methodology.
Of the 500 largest cities, only 94 (19%) have a public credit rating that is considered 'investment grade'
32 cities have a 'speculative grade' rating
Therefore, about 25% of the 500 largest cities in the Developing World have a public credit rating from a local or international rating agency.
Watch this space for more details on the findings, including lists of all active rating agencies as well as analysis of the data to highlight interesting trends, country snapshots and research on municipal bond issuances. We will also make the raw data available.