When Climate Change Becomes a Credit Problem.
Coming in the aftermath of hurricanes that severely damaged parts of Houston and much of the United States Virgin Islands and Puerto Rico this year, the message from Moody’s was clear. Governments must prepare for heat waves, droughts, flooding and coastal storm surges or face credit downgrades that will make it more expensive for them to borrow money for public services and for improvements in roads, bridges and other infrastructure.
Recovery Diva 
The title is rather misleading. Moody’s down-rating has little to do with “climate change” and almost everything to do with bad management in the face of known hazards. They didn’t prepare properly – hurricanes have hit here before and will hit again (independent of climate change) – they have huge financial liabilities in the wake of the storm – therefore their ability to pay off debt is worse than it was before Harvey hit. QED.