Economic Impact from Hurricane Ida Expected to be Modest, Municipal Credit Impact Likely to be Minimal
- Hurricane Ida made landfall as a category 4 storm near New Orleans, Louisiana, 16 years to the day after Hurricane Katrina slammed into the gulf region in 2005.
- Over the weekend, President Biden declared a major disaster in Louisiana and approved an emergency declaration in Mississippi.
- The economic impact from Hurricane Ida is expected to be modest compared to Katrina. We are also expecting very little credit impact to public finance entities as a result of the storm.