Net Debt Per Capita is a measure of a municipal issuer’s ability to meet its obligations. It measures the debt level of the issuer in relation to the population.
Applying "Net Debt Per Capita" to Securities Exams:
Net Debt Per Capita is the total amount of the outstanding general obligation debt issued by and for the use of a state or municipality divided by the population of the isuer. The lower the net debt per capita the higher the quality of the bonds and the lower the risk of default.