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Credit Rating Firm Warns New Orleans, Coastal Cities to Prepare for Climate Change


An aerial view of the Industrial Canal after its levee failed during Hurricane Katrina. ( | The Times-Picayune file photo) - by Tristan Baurick - December 11, 2017

One of the country's largest credit rating agencies has put New Orleans and other coastal cities on notice: prepare for the effects of climate change or risk a hit on your credit score.

In a new report, Moody's Investors Service warned that it will evaluate efforts to adapt to sea level rise, flooding, severe storms and other impacts from rising global temperatures when setting its ratings for loans and bonds. The report mentions New Orleans and Louisiana several times as high risk areas.



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