Demographic Shifts Present Challenges for Public Finance Sector
Our take on credit challenges and resilience as the working-age population decline speeds up in most parts of the country and most of the country grows older.
An extended decline in US birth rates is set to accelerate the decline of the working age population across most of the country, with implications for regional and local economies. At the same time, an increase in the elderly population is changing the patient mix at hospitals and raising nursing home costs in state Medicaid budgets. This discussion will cover the impact of these trends on state and local governments and the healthcare sector.
- Where and why is the working age population decline set to accelerate?
- Implications for regional economic competitiveness and municipal credit stability
- Labor shortages and aging patient mix impact on hospital sector
- Impact of growing elderly population on state Medicaid budgets
-
SpeakersRachel Cortez Associate Managing Director, US Public Finance Moody's Ratings
Frank Mamo Vice President / Senior Analyst Moody's Ratings
Diana Lee Vice President - Senior Credit Officer, US Public Finance Group Moody's Ratings
Nick Samuels SVP - Senior Credit Officer, States and High Profile Ratings Team Moody's Ratings
-
Event Manager
If you have any questions about the event, please contact Suheylee Fragoso at Suheylee.Fragoso@moodys.com.
Confirm cancellation
Something went wrong.
An error occurred trying to play the stream. Please reload the page and try again.
CloseSign In
Please sign in to your account:
Rachel Cortez is an Associate Managing Director with the US Public Finance Group of Moody’s Investors Service. As the manager of Moody’s Chicago-based analytical team, Rachel oversees local government credits in ten Midwest states. She has extensive experience covering tax-backed and revenue-secured credits issued by US local governments and not-for-profit health care organizations.
Prior to joining Moody’s in 2005, Rachel spent five years with American Management Systems (now CGI Group), where she implemented budget and financial management systems for state and local governments. She was also a budget analyst with the State of Illinois Bureau of the Budget (now Office of Management and Budget) and spent several years working in development and fundraising for a Chicago not-for-profit organization.
Rachel is a former President of the Chicago Municipal Analysts Society (CMAS) and served on the Board of Governors of the National Federation of Municipal Analysts (NFMA). Rachel received an MPA from the Maxwell School of Syracuse University and a BA in Government from Cornell University.
Frank Mamo is a Vice President / Senior Analyst on Moody’s US Local Government team. He is the state lead for local government ratings in Georgia, covering cities, counties, K-12 school districts, and municipal utilities. Frank’s portfolio also includes Florida and South Carolina local governments. Frank has led a range of research initiatives that assess how demographic, economic and socioeconomic trends influence local government credit quality.
Prior to joining Moody’s, Frank was a tax policy researcher at the Institute on Taxation and Economic Policy as well as the Center on Budget and Policy Priorities in Washington, DC. Frank holds an MPA from Columbia University and a BBA from the University of Iowa.
Diana Lee is a Vice President/Senior Credit Officer in Moody’s not-for-profit healthcare ratings group. Diana rejoined Public Finance in 2017 after spending 20 years in Moody’s Corporate Finance Group. In her prior role, she was responsible for healthcare companies in a variety of subsectors, including for-profit hospitals, managed care, medical device, healthcare distribution and pharmacy benefit management. Diana has authored numerous Moody’s reports on healthcare matters as well as rating methodologies.
Before joining Moody’s in 1989, Diana held several positions in the healthcare sector. She worked as an internal consultant at the Columbia-Presbyterian Medical Center, an administrator at the University of Massachusetts Medical Center and performed healthcare research at Boston University Medical Center.
Diana received a Masters degree in health services administration from the University of Michigan and an undergraduate degree in biology from Brown University. Diana served on the Advisory Board of the University of Michigan School of Public Health’s Griffith Leadership Center, which promotes and supports excellence in health management and policy leaders.
Nick Samuels is a Senior Vice President for the States and High Profile Ratings Team covering credits for the state of Texas, New York City, and the District of Columbia.
Prior to joining Moody’s, Nick worked for the National Association of State Budget Officers analyzing state fiscal and expenditure trends. Nick holds a BA degree in government from Skidmore College and a Master’s in Public Administration from the George Washington University.