- Comparison of
Alternatives or “Structuring”
- Public Information
and Education
- Analysis of
Revenues
- Financial Review
and Presentations
- Credit Ratings
- Documentation
Comparison
of Alternatives or "Structuring"
FSG has the technical expertise to evaluate the
impact of different assumptions on your transaction. One of these
assumptions is the maturity structure or the rate at which the issue will be
repaid. The policy desire to repay debt as soon as possible should be
weighed against the objective of minimizing its impact on tax rates.
These two very real, very reasonable objectives work directly against each
other and must be carefully evaluated.
Public Information and Education
A private corporation can issue debt quickly,
quietly and without voter approval. Obviously, the spending of public
funds must bear public scrutiny. Even in the case of the most publicly
supported project, the public hearings surrounding a financing can be cause for
some anxiety. FSG professionals have extensive experience with public
presentations and can help you explain the objectives and process in your
community.
Investors want to know they will be repaid. No
matter what the structure or revenue under consideration, potential investors
will require an analysis of the pledged revenues prior to making an investment
decision. Whether it is property taxes, tax increment finance or local option
income taxes, FSG professionals can perform the analysis necessary to complete
your transaction.
Financial Review and Presentations
FSG professionals have extensive experience working
with the major credit rating and municipal bond insurance companies on Wall
Street. We will prepare the financial analysis and create a credit
presentation that proactively addresses the concerns of these
institutions. We will prepare your officials for the presentations, as
necessary, or can represent the community on your behalf.
FSG professionals have experience with the three
major rating agencies: Moody's Investors Service, Standard & Poor's
Ratings Group, and Fitch IBCA. It is important that your financial
advisor have experience working with the professionals from these
agencies. FSG has established working relationships with these
professionals through years of presenting issuers ranging from a first time
review to credit upgrades. We understand each firm's rating review
process and can present your issue in the best possible light. A more
detailed description appears in Specialized Services.
The Official Statement
is a sworn statement of the officials, on behalf of the community, which
portrays the financial and economic health and wellbeing of the
community. Investors will decide to loan the community money based
primarily on this document. It must be consistent with the legal
covenants of any bond ordinance, credit enhancement agreement and federal and
state law.
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