Five-Factor Theory of Personality

Funding for municipal infrastructure projects in Europe, Asia, and Latin America has traditionally been provided by intermediaries such as governmental lenders, commercial banks, and multilateral regional banks. As governments become more and more hard-pressed to pay for projects, however, new attention is being paid to capital market debt issues based on stand-alone credits similar to U.S. municipal revenue bonds. Now both the buy side and the sell side of the capital markets are motors propelling development of the revenue bond market abroad. Full development will take several years, even in Western Europe, but there are key credit issues to be aware of now.