For many years, RSA has enjoyed strong working relationships with Moody’s Investors Service and Standard & Poor’s. As a result, RSA commands a high degree of credibility with the analysts in this market. Through these connections, RSA has helped many clients obtain municipal bond ratings from the major national rating agencies, generating numerous ratings upgrades for clients. Historically, RSA has worked with both the rating agencies and issuers to identify these areas and worked on ways to improve them
In preparing for credit quality meetings, RSA will work with the issuer’s staff to prepare a presentation, which includes a comprehensive review of the issuer as well as a comparison of similar issuers or peer group analysis. The ratings presentation should effectively communicate such issues as long term continuity of leadership; superiority in excellence of service; strong, conservative financial practices; demographics of local economies; future growth in the area; and an outline of each County’s capital program.
RSA representatives then accompany the Issuer’s officials to meet with the rating agencies. After the presentations, RSA will continue to be in contact with the rating agency analysts and will provide additional information as needed. On an on-going basis, RSA will work diligently to reduce the rating fees via preferred pricing programs.
RSA also works closely with bond insurers to help issuers determine the feasibility of bond insurance on a presale purchase and bidder option basis.