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BRIEF-Moody's Says U.S. Tax Legislation Is Credit Negative For U.S. Sovereign
December 21, 2017 / 2:40 PM / a month ago

BRIEF-Moody's Says U.S. Tax Legislation Is Credit Negative For U.S. Sovereign

Dec 21 (Reuters) - MOODY‘S INVESTORS SERVICES:

* MOODY‘S SAYS U.S. CORPORATE TAX CUT IS CREDIT POSITIVE, WHILE EFFECTS OF OTHER PROVISIONS VARY BY SECTOR

* MOODY‘S SAYS THE U.S. TAX CUTS WILL CONTRIBUTE ONLY MODESTLY TO AGGREGATE ECONOMIC GROWTH, IN RANGE OF ONE-TENTHS TO TWO-TENTHS OF A PERCENT OF GDP

* MOODY‘S SAYS FOR U.S. SOVEREIGN, TAX LEGISLATION CREDIT NEGATIVE DUE TO $1.5 TRILLION DEFICIT IMPACT OVER 10 YEARS THAT WILL MAKE FEDERAL DEBT REDUCTION MORE CHALLENGING

* MOODY‘S SAYS THE U.S. TAX LEGISLATION IS CREDIT NEGATIVE FOR INVESTOR-OWNED UTILITIES

* MOODY‘S SAYS CORPORATE TAX CUT, FULL UPFRONT CAPITAL SPENDING DEDUCTIBILITY TO OUTWEIGH COST OF LIMITATION ON INTEREST DEDUCTIBILITY FOR MOST INVESTMENT-GRADE NON-FINANCIAL U.S. COS

* MOODY‘S SAYS REDUCED U.S. CORPORATE TAX RATE WILL LEAD TO NET REDUCTION IN BANKS’ TAX LIABILITIES & ASSOCIATED IMPROVEMENT IN PROFITABILITY

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