Bond Buyer "Ex-Ambacker Set to Offer Ratings for Muni Defaults", Investing, Wednesday February 9, 2011
New Company Rates Municipal Bonds for Investors - Breaks Away From Issuer Paid Model Puts probability of default on California Revenue Anticipation notes at 10%.
Garden City, New York – February 9, 2011 “The AAA to D rating system used for the last 100 years does not fully serve the interests of investors. This is particularly true for those who own, manage, or trade municipal bonds, “said Carl G. Dincesen, President of Benchmark Bond Ratings, Inc. Benchmark Bond Ratings is the only credit rating company for municipal bonds not supported in whole or part by issuers. Because our ratings are private, Benchmark Bond Ratings is free of any conflict of interest that could dilute the analytic process - issuers cannot use them to sell bonds. Dincesen said, “We pinpoint risk so that investors can make better risk reward decisions and believe Public credit ratings, while necessary, are not always sufficient.”
The company serves investors who want another assessment. One that is private and available on demand. The Firm employs a precise, transparent, logical rating scale and report format.
Mr. Dincesen, a municipal bond credit expert, was head of public finance credit risk management at Ambac Financial Group. He notes “today’s financial stress has caused risk to increase faster than indicated by long-term trends in place. “ He added, “The increase in the risk profile will not be a temporary phenomenon.”
The firm’s expertise is state and local debt. However, Benchmark’s innovative Protection Margin Rating scale is applicable to rating risk of default on any kind of long-term debt.
Sample rating reports on two recent new issues, and more information on this new bond rating company, can be found at WWW.BENCHMARKBONDRATINGS.COM (California opinion under Recent Articles). Contact: Benchmark Bond Ratings, Inc. cdincesen@benchmarkbondratings Garden City, New York 11530 Telephone 516-242 6776
Confidentially Guaranteed - Clients need not disclose principal amount(s)
Municipal Credit Insights, LP and Benchmark Bond Ratings®, LP Garden City, NY