Track: Treasury Operations

Maximizing Value from your Rating Agency Relationships

Monday, October 20, 2008
10:30 a.m. - 12:00 p.m.
Room: 518

Recent credit market turmoil has changed -perhaps permanently - the image and "brand value" of the major credit rating agencies. It has also sharply refocused investors? attention on the importance of credit risk. - How does all this impact corporate issuers? - Does it improve their bargaining leverage in negotiating with rating agencies? - Is it time to rethink their rating agency strategy? - What would a new strategy look like?

Speakers:

Objectives

• Understand the basic business model and "value proposition" behind the credit rating business
• Understand how it may have been affected by recent events in the credit markets

Pre-Requisites

• Knowledge of the debt markets (bank loans and high yield bonds)

Take-Aways

• New ideas and ways of thinking about your relationship with the credit rating agencies you may currently use (or are contemplating using)
• Insights into what motivates issuers, investors and bankers that work with rating agencies; and into what motivates the rating agencies themselves

CPA Field of Study: MAS