Kroll Bond Rating Agency (KBRA) releases a report on cybersecurity and how local governments are increasingly becoming a target of cyber criminals. In fact, cybersecurity professionals are concerned that cyber criminals are using the COVID-19 pandemic as a pretext for additional cyberattacks.
KBRA views cybersecurity matters as a governance issue. KBRA has developed a series of questions to help assessing the extent to which an issuer is pursuing best practices in cybersecurity preparedness. We recognize there is no single approach and that the risks will vary across types of municipal entities and will, invariably, change over time. The measures taken to address such risks must also adapt over time as well.
To view the report, click here.
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About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.