PubFinCriteria_2006_part1_final1.qxp

agement review and portfolio strategy meeting to review any changes made during the year. Fund credit quality ratings criteria A ...

http://www.standardandpoors.com 321 market transactions with credit rated and volatility rated funds. These market transactions ...

Portfolio and historical risk analyses often yield similar results and reflect a long-term commitment to a particular investment ...

http://www.standardandpoors.com 323 Interest rate/option risk Interest-rate risk refers to the fact that the longer the maturity ...

■Duration of capitalized interest; ■Insurance coverage during construction, including whether coverage is sufficient to cover fu ...

elect to use a fixed-price, turnkey construction con- tract, Standard & Poor’s verifies that the owners, developers and othe ...

In addition, Standard & Poor’s assesses the extent to which engineering and design are complete, with equipment procured whe ...

http://www.standardandpoors.com 327 completion and lease-up at specified debt service cov- erage by the specified completion dat ...

328 Standard & Poor’s Public Finance Criteria 2007 Rating Analysis In order to rate a credit enhancement program issue, the ...

http://www.standardandpoors.com 329 S tandard & Poor’s Ratings Services has enhanced its public pension fund rating criteria ...

330 Standard & Poor’s Public Finance Criteria 2007 Analytical evaluation Standard & Poor’s analytical approach to public ...

■Operating and financial performance: the basis for establishing funding objectives, performance goals, and financial targets; a ...

for any pension fund typically lies with its board of directors or trustees, and board members are usually elected and/or appoin ...

compensation agreements with employees and plan structure obligations. Among these are: ■Monthly stipends based on plan formula; ...

pension fund’s operations and funding status in the event of an adverse investment environment. Standard & Poor’s will consi ...

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