Caitlin Devitt

Recent Stories From this Author

Sanford Health Deals for Hospitals in Dakotas
October 13, 2015 South Dakota’s Sanford Health is bringing $176 million of A-plus rated hospital bonds to market this week in a deal that will...

Michigan's Snyder Leaning Against Statutory Lien Bill
October 9, 2015 Michigan Gov. Rick Snyder has doubts about the need for a bill that would attach a statutory lien and trust to local...

S&P Drops Chicago Motor Fuel Tax Bonds Six Notches
October 8, 2015 Chicago’s motor fuel tax bonds became the latest victim of Illinois’ budget stalemate Wednesday when S&P dropped the debt six...

Flint Reconnects to Detroit Water System Amid Elevated Lead Levels
October 8, 2015 Flint, Mich. will reconnect with Detroit’s water and sewer system after a year of struggling with polluted water from the...

Kroll Sees Pluses and Minuses in Chicago Budget Plan
October 8, 2015 Kroll has weighed in on Chicago’s 2016 budget, praising the spending plan for a key property tax increase but warning of...

Former Chicago Schools CEO To Plead Guilty to Corruption Charges
October 8, 2015 The former chief of Chicago Public Schools was indicated Thursday on charges tied to no-bid contracts worth $23 million.

Michigan Statutory Lien Bill Advances to Full Senate
October 7, 2015 Michigan lawmakers joined a national debate by advancing a bill to enact a statutory first lien on local issuers’ unlimited...

Cincinnati Turns A Corner With Pension Agreement
October 6, 2015 Cincinnati is nearing a historic agreement to remedy its long-standing pension shortfall that sparked downgrades and years of...

Columbus, Ohio Deputy Auditor Moves to Advisory Firm
October 6, 2015 After 12 years in Columbus, Megan Kilgore is “moving across the table,” taking a job at the firm, Umbaugh, that is the city’s...

Chicago's Noyes Hires Indiana Public Finance Vet
October 5, 2015 Chicago-based investment firm David A. Noyes & Company has hired former Indiana public finance director Mark Moore as part of...

Career Zone


New York State Assemblyman Phillip Goldfeder, D-Queens, examines outer-borough growth and transit needs in New York City, as well as efforts to harden its water-exposed neighborhoods.

The notion of option-adjusted spread (OAS) is the standard analytical tool for taxable fixed income securities. It is also making inroads into the muni market. Unfortunately the usual implementation for munis is flawed, rendering the results virtually meaningless. So it is understandable that many muni professionals shy away from OAS in favor of the archaic ‘yield-to-worst’ approach. Correct implementation would undoubtedly attract converts.

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