Moody's released a Request for Comment on a proposed new methodology for regional and local governments (RLGs) outside of the US. At this webinar, the analysts will discuss the main proposed changes and updates, the analytical reasoning behind them.
Agenda:
- Overview of the proposed methodology
- Analytical factors and considerations used to measure the intrinsic strength of an RLG
- How we propose to assess the extent of rating uplift from extraordinary government support
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SpeakersSebastien Hay Associate Managing Director, Digital Analytics Moody's Ratings
Raphaele Auberty AVP Analyst, Sub-Sovereign Moody's Ratings
Adam Hardi Vice President - Senior Credit Officer, Sub-Sovereign Moody's Ratings
Tatiana Killen Vice President - Senior Analyst, Methodology Development Group, CSS Moody's Ratings
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Sébastien Hay is Vice-President and Senior Analyst within the SubSovereign team at Moody’s and the lead analyst in charge of rating French public sector bodies.
He has nine years’ experience in the area of local and regional government fi nances. Before joining Moody’s, he was Head of Research and then Head of Economic Research within the Financial Research unit at Dexia Crédit Local, where one of his main roles was to oversee all fi nancial analyses of the French local public sector environment. He also worked in the structured fi nance department at Dexia, which involved coordinating public-private partnerships in France. At Moody’s he is responsible for a portfolio of loans in France, Belgium, Switzerland and Poland. He is also in charge of rating all Spanish local authorities (comprising 10 regions that are currently covered by Moody’s).
Sébastien has a degree from Sciences Po and a Master’s in rating and performing fi nancial analyses for local and regional authorities (University of Rennes I).
Raphaele Auberty is an AVP in Moody’s Sub-Sovereign Group. She holds lead analytical responsibilities for ratings on a diverse portfolio encompassing government agencies, regional and local governments and hospitals in France.
Before joining the Sub-Sovereign Group in 2021, Raphaele was part of the Sovereign team for three years supporting coverage for a portfolio of sovereigns and multilateral development banks in Europe and Africa.
Raphaele holds a Bachelor’s Degree from Sciences Po Paris and a dual Master’s Degree from Sciences Po Paris and the London School of Economics in International Political Economy.
Adam Hardi is a Vice President - Senior Credit Officer in Moody’s Global Sub-Sovereign group, based in Toronto. He is one of two lead analysts rating the Canadian provinces, municipalities, and a broad section of government-related issuers in Canada including universities, hospitals, and transit and finance authorities. Adam has broad experience in the public sector, as well as in cyber and digital economy.
Adam holds an MBA from the Rotman School of Management at the University of Toronto, and a B.A. in economics from the University of Manitoba. He is a CFA charterholder and has been teaching the CFA curriculum and writing content since 2008.
Tatiana Killen is a Vice President – Senior Analyst for the Methodology Development Group (MDG), joining as an analytical lead in 2022.
Tatiana brings deep analytical and operational experience, particularly in the US public finance and infrastructure sectors. Most recently, she has served as VP- Senior Analyst for the PFG eastern team, covering various local governments across the northeast and southeast states. Tatiana has held various roles in PFG, including as a dedicated chair, the lead on the Monitoring Council, and as an active member of the charter school team and PFG’s compliance task force. Tatiana started at MIS in 2010 as an Analyst on the PFG local government team in Chicago and relocated to New York in 2018. Before joining Moody’s in 2010, she held positions at several leading financial institutions, and she began her professional career as a stockbroker/trader at E*Trade.
Tatiana holds an MS in Finance from DePaul University and a BS in Business Economics from Florida Agricultural and Mechanical University.