KBRA Releases Report - Coronavirus (COVID 19): States Brace for Crush of Unemployment Claims

Kroll Bond Rating Agency (KBRA) releases a research report discussing various state preparedness to meet unemployment insurance (UI) claims. During the week ending on March 21, initial unemployment insurance claims increased by three million due to the impact of the coronavirus (COVID-19) disease, a tremendous increase over prior periods reflecting the ferocity and velocity with which the pandemic has affected the economy. In the report, KBRA examines state reserve levels dedicated to meet the unprecedented surge in unemployment claims. However, two of the largest and hardest-hit states, New York and California, have some of the lowest UI reserve levels as measured by the U.S. Department of Labor’s index.

Click here to view the report.

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) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe Limited is located at 6-8 College Green, Dublin 2, Ireland.

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Contacts

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Patricia McGuigan, Senior Director
+1 (646) 731-3350
pmcguigan@kbra.com

Karen Daly, Senior Managing Director
+1 (646) 731- 2347
kdaly@kbra.com

William Cox, Global Head of Corporate, Financial, and Government Ratings
+1 (646) 731-2472
wcox@kbra.com

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James Kissane, Senior Director
+1 (213) 806-0026
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