February 28, 2013 / 9:21 PM / 5 years ago

Sequestration to hit U.S. public issuers credit quality-Moody's

Feb 28 (Reuters) - Automatic federal spending cuts known as sequestration are likely to go into effect on March 1 and will be a credit negative for U.S. public finance issuers, Moody’s Investors Service said on Thursday.

The negative impact on credit quality would be felt gradually, as $1.2 trillion in reductions are phased in over 10 years, Moody’s said.

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