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California Debt and Investment Advisory Commission

Presents the 11th Annual CDIAC Pre-Conference to
The Bond Buyer’s 22nd Annual California Public Finance Conference:

Exploring the Dimensions of
Municipal Credits


October 17, 2012
Merchant’s Exchange-Julia Morgan Ballroom
San Francisco, CA

Agenda

 According to economists the Great Recession ended in June or July of 2009, making it the longest-lived economic downturn since World War II. Yet state and local governments continue to struggle with budget deficits. Some question if revenues will ever return to pre-recessions levels or whether the “new normal” includes permanently downsized expectation and the diminished capacity to finance public projects. The speakers in this CDIAC Bond Buyer Pre-Conference will consider the impact of the Great Recession on public-sector credits, including the analysis and presentation of information related to credit quality, collateral, and capacity to repay debt issued by a municipality. Beginning with a discussion of state and local government capacity to issue debt, the program focuses on the tension between the public’s demand for projects and its willingness to finance them over long periods of time.

Presentation Materials

  • Session 1 | Understanding Credit Capacity in the Post-Recession Era
  • Session 2 | Credit Criteria: Historical and Current Measurers of Credit Quality
  • Session 3 | In the Rear View Mirror: Credits Under Stress
  • Session 4 | The Market’s Response to Changing Conditions and Emerging Needs?
  • Session 5 | Preparation for the Next Crisis: Roundtable

Speakers

  • David Brodsky, Managing Director, KNN Public Finance
  • Marc Joffe, Principal Consultant, Public Sector Credit Solutions
  • Scott Johnson, Assistant City Administrator, City of Oakland
  • Jordan Levine, Economist and Director of Economic Research, Beacon Economics LLC
  • Tom McLoughlin, Managing Director, UBS Corp
  • Matthew Reining, Director and Analytical Manager, Standard and Poor’s
  • Tim Schaefer, Principal Owner, Magis Advisors
  • James Spiotto, Chapman & Cutler LLP
  • Bill Statler, Consultant and Trainer and Former Director of Finance & Information
  • Paul Sutherlen, Senior Vice President and Senior Credit Products Officer, Bank of America Merrill Lynch
  • Melanie Tung, Senior Municipal Research Analyst, Wells Capital Management
  • Douglas Willmore, City Manager, City of Bell Technology, City of San Luis Obispo