Bond Rating Basics

On the latest episode of the Conduit Street Podcast, Jennifer Diercksen joins Kevin Kinnally and Michael Sanderson to discuss the ins and outs of municipal bond ratings — including the role of ratings agencies in assessing creditworthiness; the factors that influence interest rates, investment appetite, and bond pricing; and the differences between short-term and long-term debt ratings.Jennifer Diercksen is a First Vice President at Davenport & Company, one of the oldest employee-owned, independent financial services firms in America. She works primarily as a financial advisor to state and local governments, authorities, and not-for-profit entities in Maryland, Pennsylvania, and Virginia.Prior to joining Davenport, Jennifer was an AVP at Moody’s Investors Services; a Consultant at Deloitte Consulting; and an Investigator for Surveys and Investigations on the U.S. House of Representatives, Appropriations Committee. She earned her MPA from Syracuse University – Maxwell School of Citizenship and Public Affairs, and her BA in Economics from University of Maryland College Park.The MACo Pooled OPEB Investment Trust Fund offers member counties — along with their libraries, colleges, and supported units — a vehicle to invest current funds toward future obligations for retiree health insurance, a.k.a. “other post-employment benefits.” OPEB liability presents a funding challenge to nearly every county. But this investment vehicle is a low-overhead and low-cost means to put current assets to work, in a manner similar to a pension fund.Stay tuned to MACo’s blog and our Conduit Street podcast for unbiased, non-partisan election news, details, and insider tips on what it all means for county government.MACo has made the podcast available through all major platforms by searching Conduit Street Podcast. You can also listen on our Conduit Street blog with a recap and link to the podcast.You can listen to previous episodes of the Conduit Street Podcast on our website.Useful LinksMACo's Pooled OPEB Investment Trust FundDavenport & Company