Blue Rose Advisors Blog
The Shield – Recent Market Events & Headlines You May Have Missed…
Highlighted here are some tidbits that you may find of interest as your organization establishes or advances its 2021 and/or longer-term capital plans
The Shield – Special News Alert
Recently, Moody’s released a proposed update to their higher education rating methodology
Basis Points – LIBOR Phase-out Update
During the webinar, we discussed several legislative initiatives intended to cover legacy financial instruments that do not include fallback language and are not subject to the ISDA 2020 LIBOR Fallbacks Protocols
Review of Rating Agency Outlooks on the Higher Education Sector in 2021
Faced with unprecedented disruptions to “status quo” methods of operation last March, colleges and universities have adapted admirably on the fly, shifting students to remote or hybrid learning solutions while managing expenses to compensate for revenue losses from various sources, including housing and auxiliaries, athletics, and overall headcount
The Shield: March 2021 Municipal Market Update
Since we published our 2020 Mid-Year Market Update last June, the financial markets have calmed down from the historic turbulence experienced as a result of the COVID-19 pandemic
SPECIAL NEWS ALERT
As the market anticipated, the British Financial Conduct Authority formally announced this morning that all LIBOR tenors in multiple currencies will be discontinued or become non-representative
Basis Points: Benefit of OMS to SLGS in a Positively Sloping Yield Curve Environment
In the current market, the yield curve is no longer inverted and in fact is steeper than it has been during the past four years
Basis Points – Recent Developments in the Repo Market
In the past, Blue Rose has written about the use of Guaranteed Investment Contracts (“GICs”) and compared them with Flexible Repurchase Agreements (“Repo”)
The Shield – Key Public Finance Themes for 2021
It is just one month into calendar year 2021 and we are already seeing themes of the coming year emerge. Highlighted below are three themes to which our team is paying particularly close attention
Blue Rose’s Max Wilkinson promoted to Assistant Vice President
Mr. Wilkinson provides in-depth modeling, research, and analytics in support of the delivery of capital planning, debt and derivatives advisory, and reinvestment services to our clients
2020 Looking Back – Looking Forward
Capital markets in 2020 were defined by the same factors that affected our everyday lives: pandemic related ups and downs, stabilization with fiscal stimulus, and improving sentiment over the summer, an unforgettable presidential election, and hope-inspired relief from a vaccine
Basis Points: LIBOR Fallback Protocol – Should you adhere?
As regular readers of Basis Points are aware, the London Interbank Offering Rate (LIBOR) is expected to be phased out and replaced with the Secured Overnight Financing Rate (SOFR)
Gaining Liquidity by Liquidating Long-Dated Investment Contracts
Prior to the financial crisis, long-term interest rates were significantly higher than where they are currently. The graph below shows the decline of the 20-year LIBOR swap rate (as a proxy for long-term interest rates) since January 2007
Keeping Traditions in 2020
There has been very little normalcy in calendar year 2020. We as a country, our communities, and each of us individually have taken on challenges over the last 10 months that we couldn’t have imagined prior to this year
Basis Points: LIBOR / SOFR Update
Since Blue Rose’s last update on the transition from LIBOR to SOFR the ARRC continues to push forward in meeting milestones laid out in its paced transition plan
Blue Rose’s James McNulty, promoted to Managing Director
Mr. McNulty specializes in providing lead advisory services and financial analysis for higher education institution financings. In addition, he advises issuers through data-centric analysis including debt capacity and credit analysis
The Shield: Fixed or Variable? A Recent Fed Policy Change Requires Further Consideration
Borrowers of long-term debt are always faced with this question: should we borrow on a fixed rate or a variable rate basis?
Blue Rose’s Georgina Walleshauser, promoted to Associate
In her new role of Associate, she will utilize her experience as a Quantitative Analyst in a more client-facing role, while still performing much of the analysis utilized in this capacity
Blue Rose’s Justin Krieg promoted to Senior Vice President
Justin Krieg provides financial and economic consulting services to the firm’s clients
The Shield: Main Street Lending Program
Effective July 17, 2020, through September 30, 2020, Nonprofit entities can obtain federal loan dollars through two different Main Street Lending Program facilities (NONLF [1], & NOELF [2])
Hedging Treasuries in an Uncertain Market
Many higher education institutions and other borrowers in the municipal market are enticed by the low interest rates that are being reported in the press
Realizing the Benefit of an Existing Escrow Through a Tender Offer
There continues to be a disparity in the current market between pre-refunded municipal bonds and Treasury securities
Blue Rose’s Max Wilkinson, promoted to Associate
Mr. Wilkinson provides in-depth modeling, research, and analytics in support of the delivery of capital planning, debt and derivatives advisory, and reinvestment services to our clients
The NEIU Social Justice Leadership Housing Award
The social unrest across our nation prompted me to re-examine our companies’ hiring practices and general opportunities within the framework of social justice
The Perks of Hiring an Escrow Advisor
It is typical for issuers with an upcoming refunding transaction to engage an escrow bidding agent
An Introduction to Our Outstanding Additional Advisory Services
Basis Points – Reinvest Market Update November 2023
Benefits of Positive Arbitrage
The Shield – Third Quarter Market Update
Reinvest Market Update – Basis Points
Blue Rose Capital Advisors Annual Meeting 2023
The Shield – Final LIBOR Transition Update
Basis Points – Market Update August 2023
The Shield – Rating Agency Update: New S&P Criteria and FY2022 Medians
