NEW YORK--(BUSINESS WIRE)--Pension obligation bonds (POBs) will not correct unsustainable benefit and contribution practices and are not a form of pension reform, Fitch Ratings says. Issuing POBs is neutral for some governments' credit quality and negative for others. In our view, credit quality is tied to whether governments implement reforms to make their underlying pension obligations sustainable over time. The Kansas Development Finance Authority's $1 billion POB issuance this week is the l
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