Cyber risk could lead to ratings downgrades for public entities, S&P says

Increased cyber risk to public entities that issue bonds could result in credit rating downgrades unless the organizations take steps to manage their elevated risk levels, S&P Global Ratings warned in a report.

S&P published the report, “As Threats Rise, U.S. Public Finance Entities Take On Mounting Challenges To Secure The Digital Front Line,” on Dec. 13. The ratings agency said cyber attacks on publicly financed, debt-issuing institutions are increasing, and cyber risk management must become a standard part...