MAGNY Luncheon & Discussion

The Municipal Analysts Group of New York (MAGNY) will host their monthly luncheon and discussion on September 8th. This month's is entitled "The Trend Toward Dedicated Revenue and Securitization Structures: More or Less Than Meets the Eye?"

In the post-Detroit environment, investors have grown more wary of the full faith & credit GO pledge and have increasingly turned toward dedicated revenue and securitization structures. Is their newfound faith in these structures justified? If so, what questions should they be asking to safeguard their security interest?

The panel will discuss the following issues and more:

• Perceived benefits of migrating to more dedicated revenue and securitization structures;
• Legal aspects of dedicated revenue issues designed to remedy perceived shortcomings of the GO pledge
• Determining what constitutes a true sale for a municipal securitization; and
• Factors assessed when rating only a portion of a municipal entity’s tax revenue stream and potential implications for the residual GO pledge

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