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ASC works with Issuers to evaluate their financial structure and its departments with the aim of strengthening internal controls and increasing the Issuers debt capacity. The firm works with Issuers to:

Develop comprehensive long term financial plans and budgets;
Develop capital improvements plans;
Evaluate debt structures and develop debt policies that complement existing oversight legislation;
Analyze underwriting proposals and provide guidance on financing structures to raise future debt capital;
Provide advice on financing alternatives (Bond Refunding, Interest Rate SWAPS).

ASC Financial has a strategic advantage when providing financial consulting services in that the firm’s business Partners intimately understand the intricacies and nuances of the debt markets beginning with evaluating a proposal culminating in the process of pricing bond(s). ASC provides services to:

Municipal Issuers – to fund the development and rebuilding of essential infrastructure and services, who increasingly turn to innovative project financing, and hybrid public and private debt financing models, (Tax Increment Financing as an alternative).

Higher Education - tax-exempt bond issues to finance facilities for colleges and universities (both public and private) and student loans.

Nonprofit corporations – comprised of schools, hospitals, and other public sector institutions for which the firm provides advice on financial and business decisions.

ASC Financial professionals are very experienced in working with Public Issuers to develop public finance solutions, ranging from public transportation to participating in pricing municipal bonds. Our professionals have functioned in roles as manager, co-manager and/or as a member of an underwriting team on issues concerning:

Water and sewer bonds

Airport bonds

Transportation bonds

Tax-anticipation bonds

Bond anticipation notes

Among many services provided to Issuers, ASC Financial will work with an Issuer to develop and structure a Rating Agency presentation, organize rating agency visits and develop and organize the oral presentation to rating agency professionals (Standard and Poor and Moody’s Corp).

What’s New at ASC Financial

Derivative Products [ Swaps and Other Hedges] Derivative products is a broad term which includes various methods of repackaging municipal bonds into tax-exempt instruments with characteristics different from the bonds as originally issued, embedding more sophisticated interest rate formulae into tax-exempt bonds, hedging issuers' and investors risk exposures, and products to help issuers manage their fund investments.

Derivative products have been developed in response to specific needs of issuers and bond purchasers. For example, governing law or the objectives of the issuer may not permit bonds to be issued in a form that would command the best price in the market. Underwriters or other market participants, either in connection with the initial issuance of the bonds or in totally unrelated secondary market transactions, using custodial receipts, grantor trusts, swaps, puts or other devices, make a different instrument or instruments ("synthetic securities") out of the original bonds that they can market at an aggregate price higher than they paid for the original bonds.

ASC Financial will work with Issuers to identify the most suitable derivative product for their municipality.