S&P Capital IQ l RDE l Principles of Municipals S&P Capital IQ l RDE l Developing a Corporate Credit Rationale

Principles of Municipals

Education Program

Available Courses:
New York, NY - May 17-18, 2012

Chicago, IL - September 13-14, 2012

Duration: 2 days
Price: $2,400 ($1,900 if you register through April 20, 2012)
Audience: This course is defined for beginner-to intermediate-level analysts, credit risk managers, and other financial professionals who want to enhance their knowledge of municipal credit risk analysis.
Prerequisite: Basic knowledge of financial and business analysis and accounting. Zero to five years of experience in the financial services industry.
Pre-course work: To get the maximum benefits from this custom learning program, you will be required to complete pre-course reading from our credit analysis professionals.

CE Credits: 13
*Discount applies for CFA members – click here for details

Course Objectives
This course will help participants to be able to:

  • Identify the mechanics of how state and local governments raise capital
  • Describe the different types of issuers and investors in the municipal market
  • Compare and contrast the different types of short- and long-term municipal debt
  • Discuss the ratings process and the implication of ratings on the municipal debt market
  • Enumerate the economic and political factors that influence municipal issuers
  • Identify major warnings signals of deterioration in the municipal market
  • Analyze current developments in the municipal market in light of heightened fiscal problems

Course Overview: The course will be a combination of lecture, group and individual exercises and group discussion. Multiple case studies will be used throughout the course to highlight specific learning points. S & P Capital IQ’s products will be discussed when appropriate. This course does not teach Standard & Poor’s credit ratings criteria or methodologies.

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Course Agenda Overview

    Day 1
    Session 1: Overview of the Municipal Market
    Session 2: Types of Municipal Debt
    Session 3: Fundamental Analysis of the Municipal Market
    Session 4: Financial Analysis
    Day 2
    Session 5: Overview of Ratings and Their Implications
    Session 6: Early Warning Signs of Credit Distress
    Session 7: Market Trends and Outlook
    Session 8: Develop and Defend a Municipal Credit Rationale

If you have any questions about this course, please send an e-mail or call +212-438-4022.

Please Note: Course agenda is subject to change without notice. The course curriculum does not cover the ratings criteria, methodologies, or applications of Standard & Poor’s Ratings Services.

*Early registration discount is available through April 20, 2012.

The credit-related analyses, including ratings, of Standard & Poor's and its affiliates are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. Ratings, credit-related analyses, data, models, software and output therefrom should not be relied on when making any investment decision. Standard & Poor's opinions and analyses do not address the suitability of any security. Standard & Poor's does not act as a fiduciary or an investment advisor.

STANDARD & POOR'S and S&P are registered trademarks of Standard & Poor's Financial Services LLC. Capital IQ is a registered trademark of Capital IQ, Inc.