We have unmatched expertise in credit analytics and rating agency management. Our firm has helped many issuers improve their credit rating. Advice on credit matters may include:
PRAG has assisted a large number of clients in procuring credit enhancement. We are experienced in drafting and distributing RFPs for bond insurance, letters and lines of credits, liquidity facility services. Our outreach to credit enhancement providers extends beyond solicitation, by advising a strategy to gain not only credit approval and participation on the part of providers, but also the best possible rate by marketing our clients’ credit strengths. In negotiated transactions PRAG works with underwriters to analyze the results of insurance bids to determine the most economic application of insurance on a maturity-by-maturity basis. PRAG also solicits the insurance bids and conducts analysis incorporating the effect of call options on the economics of bond insurance which correctly reflects the true economics of bond insurance to an issuer due to the manner in which the industry standard for pricing municipal bonds is calculated.