Venue

Doral Golf Resort & Spa
4400 N.W. 87th Avenue
Miami, FL 33178

Conference Agenda

Thursday, March 18, 2010

2:00 PM - 3:00 PM

CREDIT OUTLOOK PANEL

Peter Bianchini Senior Managing Director, Senior Municipal Strategist, MESIROW FINANCIAL
Patrick Early Chief Municipal Analyst, WELLS FARGO ADVISORS LLC
John Hallacy Head of Municipals Research, BANK OF AMERICA MERRILL LYNCH
Robin Prunty Senior Director, STANDARD & POOR’S PUBLIC FINANCE RATINGS
Gail Sussman Managing Director - U.S. Public Finance, MOODY'S INVESTORS SERVICE

Municipals have long been regarded as a bullet-proof asset class.  But some analysts see a gathering storm that could result a material increase of defaults, including the prospect of sustained high unemployment in the wake of the recession and surging public pension and OPEB liabilities.  Is it time for a fundamental reassessment of credit quality, and how can the market’s underwriting standards evolve to keep pace?

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