Introduction to Public Finance

Introduction to Public Finance provides you with an understanding of the U.S. public finance market, as well as the tools used to analyze key public finance sectors and the credit risks they present. The course begins with an exploration of the history of the U.S. public finance market and the ways in which it differs from the corporate finance market. The remainder of Day 1 is focused on credit analysis associated with general obligation borrowers, the types of securities most commonly used by public sector entities, and the key factors analysts consider when assessing the risk in financing local governments and school districts. Day 2 is focused on sectors that issue revenue bonds, including transportation authorities, water, sewer, and public utilities, and higher education, healthcare, and other not-for-profit organizations. Throughout this two-day course, Moody’s Investors Services’ rating methodologies and sector outlooks are incorporated alongside short presentations, exercises, and case studies to enrich the learning experience. This course also serves as a foundational course to Moody’s Analytics’ Financial Analysis of Local Governments.