"One of the largest credit rating agencies in the country is warning U.S. cities and states to prepare for the effects of climate change or risk being downgraded.

In a new report, Moody's Investor Services Inc. explains how it assesses the credit risks to a city or state that's being impacted by climate change — whether that impact be a short-term 'climate shock' like a wildfire, hurricane or drought, or a longer-term 'incremental climate trend' like rising sea levels or increased temperatures.

Also taken into consideration: '[communities] preparedness for such shocks and their activities in respect of adapting to climate trends,' the report says."

Nathan Rott reports for NPR's All Things Considered December 1, 2017. [2]