US Public Finance Conference
Transforming Credit Perspectives Across US Public Finance
Risks to the US Public Finance sector are evolving as issuers face a credit landscape that has been reshaped by record inflation, volatile markets and lasting impacts of the pandemic.
Breakfast and Registration
How a shifting global credit cycle impacts US public finance
The Muniland podcast comes to life! Nick Samuels, host of Muniland – Moody’s US public finance podcast – is joined by Atsi Sheth, Managing Director and Global Head of Strategy and Research at Moody’s Investors Service, to discuss the dominant macroeconomic trends affecting US public finance. A shifting global credit cycle and the possibility of a recession will expose certain issuers to a more challenging credit environment. What can we expect as the credit cycle turns?
• Weakening credit conditions as inflation rises, interest rates move higher and growth slows
• The possibility of a recession as GDP declines
• What will the impacts on employment, spending and personal income mean for credit?
Trends and transitions in the rockiest areas of the credit landscape
Over the last two years, certain aspects of the public finance sector have changed in unpredictable ways. During this session, we’ll place a spotlight on the most acute changes, including:
• General observations on the transforming credit landscape
• Shifting commuting patterns and lasting ridership declines in the mass transit sector
• The impact of changing enrollment dynamics and expense pressures on the higher education sector
• How inflation will drive up pension and OPEB costs, but higher interest rates will cause liabilities to go down
Compounding impacts of Covid and prospects for recovery in healthcare
The healthcare sector has taken the sharpest turn in the credit cycle, with compounding negative effects of the pandemic, labor shortages and inflation leading to challenging credit conditions. This session will focus on how we are assessing hospital credit in a period of extreme operating stress, including:
• Key drivers and mitigants of recent hospital performance
• Red flags, bright spots and covenant breaches
• Our expectations for fiscal year 2022 and beyond
• Near-term trends and issues for hospitals
Ask us anything: Senior leaders forum
Ask managers responsible for state, local government, infrastructure, higher education, healthcare and housing credit all of your pressing questions. What are the latest trends that Moody’s is following? What are Moody’s latest insights on the ties between legal security and fundamental credit risk? What ESG factors do we anticipate will drive credit rating actions in the next five years? What else is new on the horizon?
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