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What is a credit rating and why is it important to cities? When cities take on large projects or purchase costly equipment often it is necessary to incur debt. Much like an individual’s credit score, cities also need to be mindful of their credit rating, which provide potential investors with an independent assessment of the city’s ability and willingness to repay debt. These ratings reflect more than the fiscal condition of your city today; they focus on long-term creditworthiness and are also an indicator of what a city has capacity for in the future. As such, credit ratings influence investor demand and can directly impact the interest rate and cost of issuing debt. Cities should also be able to weight whether these benefits outweigh the costs, time, and effort associated with obtaining a rating. Join us to learn more about how to prepare for a rating call and the factors credit ratings agencies evaluate.
During the webinar you will:
- Gain an understanding of the benefits a strong credit rating has on the cost of debt, and how to assess whether a credit rating is appropriate.
- Become familiar with the agencies that assign credit ratings and learn about the process involved in a credit rating evaluation.
- Gain an understanding of the information requirements and factors credit rating agencies evaluate when assigning a rating.
- Learn the importance of surveillance reviews throughout the life of a bond issue and tips on responding to inquiries.
Date and Time
Thursday, May 21 | 10 – 11 a.m.
Fee
Free
Audience
City clerks/administrators/managers, treasurers, finance staff, and elected officials.
Moderator
Lisa Sova, assistant finance director – member services, League of Minnesota Cities
Presenters
Nick Anhut, senior municipal advisor, Ehlers
Jason Aarsvold, senior municipal advisor, Ehlers