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Treasurer Magaziner Helps Rhode Island Cities and Towns Engage with Ratings Agencies

PROVIDENCE, R.I. - Rhode Island General Treasurer Seth Magaziner is bringing municipal credit analysts from each of the nation's major credit rating agencies to assist municipal officials in learning how ratings agencies evaluate financial health for cities and towns.

"I am committed to helping cities and towns make the most of their resources and improve their financial stability through smart investments and best-practices," said Treasurer Magaziner.

"By bringing the ratings agencies to Rhode Island, cities and towns can hear directly from the people who evaluate their financial health, and better understand what steps will help improve their credit ratings and reduce the cost of borrowing."

The meeting, which will be held on Wednesday, December 6 at 1:15 p.m. at New England Tech will feature representatives from Fitch Ratings, S&P Global Ratings, and Moody's Investor Services. The Treasurer, in partnership with the Rhode Island League of Cities and Towns and the Division of Municipal Finance have invited officials from each of Rhode Island's 39 cities and towns as well as quasi-public agencies that have the capacity to issue public bonds.

The panel discussion is part of Treasurer Magaizner's and the Public Finance Management Board's (PFMB) commitment to help Rhode Island cities and towns borrow in responsibly and affordably. Earlier this year, the PFMB release a comprehensive Debt Affordability Study which examined the borrowing capacity of all major public bond issuers in the state.

Related links

  • Department or agency: Office of General Treasurer Seth Magaziner
  • Online: http://treasury.ri.gov
  • Release date: 12-06-2017

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