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S&P Capital IQ Hosts Webinar Marking First Anniversary of Detroit Bankruptcy

“Detroit Bankruptcy- One Year Later: Lessons Learned” Designed Especially for Credit Risk Professionals

Jul 23, 2014 / 03:30 PM
New York, NY

New York – July 22, 2014 – To mark the first anniversary of Detroit’s historic bankruptcy, S&P Capital IQ and Standard & Poor’s Ratings Services will co-host a webinar on July 30, 2014 that will provide investors, lenders and regulators with new insights on the Motor City’s default as well as an assessment of current recovery and financing conditions for Detroit and other US municipalities. Leading analysts from both firms will discuss research developed over the past year aimed at breaking down warning signals and analyzing the changing investor environment.

Although proposed settlements with a number of Detroit bondholders in April and June 2014 have lessened some market concerns, S&P Capital IQ believes that uncertainties remain. New findings to be presented at the webinar indicate:

  • A post-crisis rise in municipal bond defaults may highlight new risk drivers
  • The reduced role for bond insurers should focus attention on loss given default
  • There are more wild cards driving local government risk today, including demographic/pension fund issues
  • Large uncertainties appear on recovery rates, particularly for some GO bonds
  • High dispersion of recovery rates across different kinds of municipal bonds
  • Overall recoveries from local governments are somewhat lower than expected

“Detroit Bankruptcy- One Year Later: Lessons Learned” has been designed to help investors understand the changes that have taken place in the municipals market over the last year and how they affect both individual investments and approaches to risk analysis.  It will be co-chaired by Bob Durante, Senior Director, Credit Solutions, S&P Capital IQ , and author of a forthcoming article, “Detroit Bankruptcy – One Year Later: Lessons Learned” and Jane Hudson Ridley, Senior Director and Analytical Manager, US Public Finance/State and Local Government, Standard & Poor’s Ratings Services.

This webinar will be particularly useful for credit professionals who look at recovery rates and default probability.  In addition, it will facilitate finding better ways to discriminate between the recovery rate of different bonds and offer deeper understanding of key risk drivers and economic fundamentals.

To register for “Detroit Bankruptcy - One Year Later: Lessons Learned,” please click here.

 

ABOUT S&P CAPITAL IQ

S&P Capital IQ, a business unit of McGraw Hill Financial (NYSE:MHFI), is a leading provider of multi-asset class and real time data, research and analytics to institutional investors, investment and commercial banks, investment advisors and wealth managers, corporations and universities around the world. S&P Capital IQ provides a broad suite of capabilities designed to help track performance, generate alpha, and identify new trading and investment ideas, and perform risk analysis and mitigation strategies. Through leading desktop solutions such as the S&P Capital IQ, Global Credit Portal and MarketScope Advisor desktops; enterprise solutions such as S&P Capital IQ Valuations; and research offerings, including Leveraged Commentary & Data, Global Markets Intelligence, and company and funds research, S&P Capital IQ sharpens financial intelligence into the wisdom today's investors need. For more information visit: www.spcapitaliq.com.

MEDIA CONTACT

Michael Privitera
S&P Capital IQ Communications
212-438-6679
michael_privitera@spcapitaliq.com

Alex Ortolani
S&P Ratings Communications
212-438-5054
alex.ortolani@spcapitaliq.com