Where credit pressures are building across US States and local governments
Which issuers are most exposed and where resilience remains
Credit quality across US States and local governments is becoming increasingly differentiated. Demographic shifts, fiscal pressures, and changing economic conditions are creating new fault lines for some issuers while others remain resilient.
Join Moody's public finance analysts for a focused webinar examining where credit pressures are building, how environmental and funding challenges are affecting issuers, and what these developments may signal for future credit profiles.
Discussion topics include:
- Diverging credit quality: Which states and local governments are most exposed to emerging credit pressures.
- Environmental exposure: The implications of changing FEMA support and insurance availability.
- Fiscal flexibility: How issuers differ in their ability to raise revenue and maintain budget balance.
- Funding pressures: The impact of reduced state and federal transfers on local government finances.
- Demographic change: How population shifts are redrawing the long-term credit map.
Speakers
Helen Cregger
Executive Director
Moody's Ratings
Denise Rappmund
Vice President
Moody’s Ratings
Frank Mamo
Vice President
Moody's Ratings
James Kelley
Assistant Vice President
Moody's Ratings
Confirm cancellation
An error occurred trying to play the stream. Please reload the page and try again.
CloseMoody's Events
close
Helen Cregger is an Executive Director in Moody’s San Francisco office. She covers local government credits primarily in California including cities, counties, enterprise systems, and school districts. Helen also rates charter schools nationally and serves as the lead analyst for charter schools primarily in Colorado, Arizona and California. She was a co-author of Moody’s charter school methodology. In addition to her analytical work, Helen heads up Moody’s municipal utility task force, supporting research and internal training for these credits.
Prior to rejoining Moody’s, Helen was an investment banker for Piper Jaffray & Co.’s and among other issuers worked with the State of Colorado on its BEST K12 capital construction program. Prior to her initial tenure at Moody’s, Helen was an analyst for the US General Accountability Office in the International Trade, Finance and Competitiveness Division. Helen holds an MPA from the School of International and Public Affairs at Columbia University and a BA in Latin American Studies from Northwestern University.
Denise Rappmund is a Vice President/Senior Analyst on the States Rating Team, currently covering several state governments, mass transits and state-sponsored property insurance issuers, including Florida, Kentucky, Massachusetts, West Virginia, North Carolina, MBTA and DART. Prior to joining the States Team, Denise was a lead analyst on the Southwest Local Government team, and covered Texas, Colorado and Kansas, during which time she was the state lead for Kansas, lead for the City of Dallas, and headed up the team’s Colorado metropolitan district sector.
Prior to joining Moody’s in 2014, Denise was a public finance investment banker with Piper Jaffray in California. Over the course of her nearly two-decade career in public finance, she has developed expertise in a broad range of sectors and complex structures, spanning macro areas like international trade and the economies of the US-Mexico border, to concentrated economies in sectors like energy or tourism; as well as real estate and project-specific expertise in special district transactions covering hotels, convention centers, commercial and residential developments.
Denise holds a B.A. in economics and international affairs from the University of Colorado, Boulder.
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.