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Online Resource Database

Most resources in the ORD are available to CDFA members only. CDFA members should login with their CDFA Account at the top of the page to access the full set of resources. Non-members are encouraged to join CDFA today to gain access to the entire database.

Search Results: Bond Rating Agencies
Displaying 1 - 49 of 49 Previous | Next | New Search
COVID-19 Complicates Housing AffordabilityMembers only Login
This research from Fitch Ratings examines how the COVID-19 pandemic has complicated housing affordability. Issues that led to the persistent housing unaffordability preceded COVID-19. The pandemic caused an economic contraction felt among millions...
CDFA // BNY Mellon Development Finance Webcast Series: Social Impact Investing: Credit Ratings for CDFIs
During this installment of the CDFA // BNY Mellon Webcast Series, we explored the trend of CDFIs furthering their social impact investing goals by obtaining credit ratings to issue debt.
CDFA // BNY Mellon Development Finance Webcast Series: Social Justice and the Muni Markets
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we discussed strategies for aligning social justice priorities with bond financing and actions in the muni markets.
CDFA-PFM Capital Markets Webinar Series: An Advanced Discussion on RatingsMembers only Login
During this installment of the CDFA-PFM Capital Markets Webinar Series, we gathered experts from the leading rating agencies for a timely discussion on ratings, long-term outlooks, and how municipal advisors determine the importance of rating deals.
CDFIs and the Capital Markets - Tapping into Impact InvestorsMembers only Login
A new paradigm is emerging – one in which mainstream investors increasingly want to invest in the social, economic, and environmental well-being of communities. LISC's research paper, CDFIs and the Capital Markets: Tapping into Impact Investors,...
CDFA - PFM Capital Markets Webinar Series: Impact of COVID-19 on the Bond MarketsMembers only Login
During the first installment of the CDFA-PFM Capital Markets Webinar Series, we focused on the market impacts of COVID-19 through the start of June and what can be expected going forward.
CDFA // BNY Mellon Development Finance Webcast Series: Forecasting the Bond Market in 2020
During this installment of the CDFA // BNY Mellon Development Finance Webcast, hear from our experts as they dive into the data, examine the trends, and offer a preview of the bond market in 2020.
Regulatory Comments Stress Safe Harbors in Libor TransitionMembers only Login
The establishment of safe harbors is one of the key issues raised by public finance industry groups in their comments to the U.S. Treasury, Internal Revenue Service and the Governmental Accounting Standards Board on their proposed guidance for...
Managing the Data Revolution in the Municipal MarketMembers only Login
While digital technology has transformed virtually every industry, in certain respects the muni bond market continues to operate in ways that date back to its origins more than 200 years ago. In this Bond Buyer white paper, find out how new...
CDFA - PFM Capital Markets Webinar Series: Regulatory Landscape with MSRB and SEC FrameworkMembers only Login
This session discussed the recent amendments and how to prepare. The discussion included insights and reminders about how to remain compliant in all areas from main regulatory bodies for bond financing in the capital markets. Speakers on this...
Moody's Assigns its First Green Bond Assessment to Dutch Mortgage DealMembers only Login
Moody's Investors Service has released a report from their first assigned Green Bond Assessment (GBA) of GB1 to GREEN STORM 2016 B.V., a Dutch green residential mortgage-backed securitisation (RMBS).
Assessing Green Bonds
In response to the expansive growth in U.S. Public Finance green bond issuance, Moody’s has recently launched its Green Bond Assessment (GBA) service. Henry Shilling will explain green bonds and how a GBA will provide green bond issuers an...
CDFA // BNY Mellon Webcast Series: Muni Bond Market: Continued Strength or Volatility? An Outlook on 2016Members only Login
During this CDFA // BNY Mellon Development Finance Webcast, hear from muni bond experts as they reflect on 2015 and forecast the rest of 2016.
CDFA // BNY Mellon Webcast Series: Muni Bond Market: Continued Strength or Volatility? An Outlook on 2016Members only Login
In these CDFA // BNY Mellon Development Finance Webcast slides, hear from muni bond experts as they reflect on 2015 and forecast the rest of 2016.
A Guide to Regulation A+Members only Login
McGuireWoods' white paper explains how the SEC's Regulation A+ works and provides practical considerations to be taken into account in deciding whether to pursue this approach.
CDFA // BNY Mellon Webcast Series: Evaluating Credit Risk in the Muni MarketMembers only Login
During this CDFA // BNY Mellon Development Finance Webcast, speakers Rachel Cortez of Moody's Investor Service, Laura Kuffler-MacDonald of Standard & Poor's, and Richard Raphael of Fitch Ratings go over the role of credit ratings in the bond...
CDFA // BNY Mellon Webcast Series: Evaluating Credit Risk in the Muni Market
During this CDFA // BNY Mellon Development Finance Webcast, speakers Rachel Cortez of Moody's Investor Service, Laura Kuffler-MacDonald of Standard & Poor's, and Richard Raphael of Fitch Ratings go over the role of credit ratings in the bond...
Financing Education Projects in Rural AmericaMembers only Login
Bob Pennington and Chuck Ellingsworth with Raymond James gave an overview of a market update, the higher education sector, public universities, private college credit analysis, and the Raymond James USDA Team. Various case studies were presented as...
CDFA // BNY Mellon Webcast Series: Muni Market Momentum - Forecasting 2015Members only Login
This webcast examines last year’s trends considering volume estimates, rate predictions, and other factors that could influence the municipal bond market in 2015. Speakers include Rena Nakashima from The Bank of New York Mellon, Amy Laskey of Fitch...
Bond Issuance in the U.S.Members only Login
David Safer of BNY Mellon analyzes bond issuance by state and sector type while also discussing the concerns and market drivers behind the trends shown.
Bonds as the Bedrock of Development FinanceMembers only Login
Daniel Martinez of Winstead PC discusses bonds as the bedrock of development finance and how this long-standing tool can be used today.
U.S. Public Finance 2013 Transition & Default Study
Fitch Ratings released this special report which analyzes and rates migration and default experience of Fitch-rated U.S. public finance securities in 2013.
U.S. Public Finance Special Tax MethodologyMembers only Login
This methodology from Moody's describes the ratings agency's approach to evaluating the credit of Special Tax Bonds.
Accessing the U.S. Capital MarketsMembers only Login
Sidley Austin produced this excellent primer for entities interested in accessing the U.S. capital markets. This resource provides an overview of securities regulations and laws, the offering process, compliance obligations, exempt offerings, a...
Understanding Municipal Market Indices, Yield Curves and BenchmarksMembers only Login
The MSRB produced this guide to understanding various measures of municipal bond interest rates.
Rating Methodology: Public Sector Pool FinancingsMembers only Login
This ratings methodology from Moody's Investor Service reviews the firm's approach to evaluating the credit of pool financings and addresses a number of related considerations.
Rating U.S. Structured Finance Transactions Backed by Direct Pay Letters of CreditMembers only Login
This report from DBRS discusses the company's methodology for rating financings enhanced with a direct pay letter of credit. Topics include sizing analysis, LOC replenishment, and operational risks.
Will Securitization Help Fuel U.S. Solar Power Industry?Members only Login
This report from Andrew J. Giudici of Standard & Poor's discusses whether securitization may be a viable option for solar developers. Topics include credit challenges posed by changing panel and energy prices.
CDFA Bond Finance Resource Center
The CDFA Bond Finance Resource Center is a one-stop hub for all of the resources, reports, headlines, and projects that CDFA collects and publishes related to bond finance. Find links to resource tags, market reports, original research, upcoming...
U.S. State and Local Government Bond Credit QualityMembers only Login
This presentation by Eric Friedland discusses the approach Fitch Ratings applies to evaluations of state and local bond credit quality. The approach is demonstrated through several case studies.
Fitch Comments on U.S. Financial Reform Act's Implication for Credit Rating AgenciesMembers only Login
This article from Fitch Ratings addresses the impact of the financial reform bill on the rating agencies and other market participants. While changes related to rating agencies will be felt most in other areas, such as mortgage-based securities, the...
Management Capacity and State Municipal Bond Ratings: Evidence With the GPP GradesMembers only Login
This study, authored by Jerry Zhao and David Guo, finds that states with higher GPP grades tend to have higher state GO bond ratings, but the relationship may be nonlinear as people are more sensitive to the extremes of perceived performance. In...
Engaging the Rating Agencies
Questions relating to the role of the rating agencies have become more common do to economic conditions as many local governments and authorities struggle to understand the process of issuing a rating and its meaning. This article summarizes the...
Engaging the Rating Agencies: Standard & Poor'sMembers only Login
This presentation by Pamela Berkowitz of Standard & Poor's explains the basics of how ratings work and the recent recallibration process of municipal bond ratings.
Fitch Ratings: Engaging the Rating AgenciesMembers only Login
Amy Doppelt covers Fitch's approach to rating tax-supported and TIF issues, ratings recallibrations, and tips for engaging the rating agencies in this presentation.
Credit Ratings: A Rating Agency PerspectiveMembers only Login
Gail Sussman of Moody's covers the basics of bond ratings and explains Moody's process and methodology for issuing their reports.
Definitions of Ratings and Other Forms of Opinion
Rating agencies play an important role in the development finance industry. This document by Fitch Ratings looks at the meaning of different ratings and the scales used when opinions are issued.
Understanding Credit Ratings - Limitations and Usage
Fitch Ratings provides a summary of how credit ratings work. It includes what the different ratings mean and how to use them, including their limitations.
Revenue-Supported Rating Criteria
This report presents Fitch Ratings’ criteria for assigning credit ratings to revenue-supported obligations and entities in the public finance sector and discusses the key qualitative and quantitative factors that influence a borrower’s expected...
U.S. Public Finance Rating Actions for Third-Quarter 2009Members only Login
This report by Fitch Ratings examines the public finance-related actions that the agency took during the third quarter of 2009. Downgrades outnumbered upgrades by two to one, and Fitch expects downgrades to outpace upgrades for at least another...
Toward a Global Regulatory Framework for Credit Ratings
Standard & Poor’s Ratings Services (S&P) recently released this white paper examining the recent changes to the markets and the roles of credit agencies under these new global conditions. It concludes with a series of recommendation that credit...
Tax Increment Bonds: Rating Criteria and TrendsMembers only Login
Sussan Corson, with Standard & Poor's, discusses tax increment finance bonds from the rating agency's prospective.
Standard & Poor's Municipal Bond Index: Index Methodology
The S&P National Municipal Bond Index is a broad, comprehensive, market-value-weighted index designed to measure the performance of the investment-grade U.S. municipal bond market. The publication explains the eligibility criteria, index...
Tax Increment Bond CriteriaMembers only Login
Dave Hitchcok from Standard and Poor's discusses TIF bonds from the rating agency perspective and what key elemnets are necessary to achieve a particular rating.
The Rating Agencies
Peter McGinnis, from Standard & Poors discusses the role the rating agencies play in the bond financing process and how the ratings are determined.
Default Risk and Recovery Rates on U.S. Municipal Bonds - Fitch Ratings Special ReportMembers only Login
Report from Fitch Ratings that compares performance data for various fixed-income securities, that concludes that most U.S. public finance debt has consistently lower default rates and higher recovery rates than similarly rated corporate and...
CDFA Spotlight: The Rating Agencies
This article examines municipal bond rating agencies.
Evaluation of Composite Bond ProgramsMembers only Login
Presentation by James Wiemken from Standard and Poor's covering the pros and cons of operating a composite bond program. This file is very large and may take a few minutes to open and/or download.
Tax Increment Bond Criteria and Rating TrendsMembers only Login
Presentation by David Hitchcock from Standard and Poor's covering Tax Increment Bond Criteria and Rating Trends. This is a large file and may take a few minutes to open and/or download.
Displaying 1 - 49 of 49 Previous | Next | New Search

CDFA National Sponsors

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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