Financial challenges facing some public finance issuers may lead them to consider maneuvers that increase liabilities or erode assets to avoid painful service cuts or increased taxes, fees and charges. In this panel, we discuss our views of the potential credit impacts of such choices.

Topics include:
  • Refundings and moving to debt from pay-go financing of capital
  • Drawing on reserves -- is it raining?
  • Buy now and pay later: scoop and toss and the many ways to manage pension liabilities including the issuance of "Pension Obligation Bonds"
Speakers:
  • Marcia Van Wagner, VP-Sr Credit Officer (Moderator)
  • Thomas Aaron, VP-Sr Credit Officer
  • David Levett, VP-Senior Analyst
  • Susan Shaffer, VP-Sr Credit Officer

Following the commencement of TRIM in 2016, there are has been a multi phased approach to the ECB’s TRIM exercise. As we are gearing up for a year of further TRIM exercises and transitioning to review of wholesale and low default portfolios, Moody’s would like to host this webinar to provide:

  1. Further insight to the challenges in the market thus far
  2. The common themes across Europe
  3. Remediation and best practice approaches

Following the commencement of TRIM in 2016, there are has been a multi phased approach to the ECB’s TRIM exercise. As we are gearing up for a year of further TRIM exercises and transitioning to review of wholesale and low default portfolios, Moody’s would like to host this webinar to provide:

  1. Further insight to the challenges in the market thus far
  2. The common themes across Europe
  3. Remediation and best practice approaches