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Good morning—
I am writing to follow up on my colleague’s prior request for information to complete our review of the city’s water and sewer system bonds. For compliance purposes, we are required to complete our review of the securities by March 31, 2017.
At a minimum, we will require financial and operational data of satisfactory quality to maintain our ratings on the water and sewer securities in accordance with our applicable criteria and policies. Failure to receive the requested information by March 15th will likely result in our suspension of the affected rating(s), preceded, in accordance with our policies, by any change to the rating(s) that we consider appropriate given available information.
We see that the city has not yet posted the fiscal 2016 audit and continuing disclosure filing to EMMA, therefore we request that you send the unaudited financial statements to us to assist in our review. If it is easier, please respond to our list of questions in the pre-meeting memo in writing, if you prefer that approach to scheduling a conference call.
Please do not hesitate to contact me if you require further information or have any questions or comments.
Thank you in advance for your time.
Chloe
Chloe Weil
Director - U.S. Public Finance Infrastructure
S&P Global - | 1 California Street 31 Floor | San Francisco, CA 94110
T: 415.371.5026
chloe.weil@spglobal.com
From: Rozgonyi, Alexandra (Analytical)
Sent: Friday, February 17, 2017 4:37 PM
To: Weil, Chloe (Analytical); 'hpenni@cityofmolalla.com'; 'cseifried@cityofmolalla.com'; 'citymanager@cityofmolalla.com'; dpw@cityofmolalla.com; Gerald Fisher
Subject: S&P Conference Call: City of Molalla, OR (Water and Sewer Revenue Bonds)
Good Afternoon,
Attached is a list of topics and questions to guide our discussion on Tuesday 21, 2017 at 3:00pm-4:00pm Pacific Standard Time.
If you have any questions prior to the call please feel free to call or email.
In addition, these questions are to guide our discussion but any follow up items can be emailed after the call if needed. I have also attached the City’s most recent rating reports for reference.
We look forward to speaking to you all on Tuesday.
Thank you,
Alexandra Rozgonyi
Rating Analyst
S&P Global - U.S. Public Finance
U.S. Public Finance | 7400 South Alton Court | Centennial, CO 80112
T: 303.721.4824
M: 303.868.1517
alexandra.rozgonyi@spglobal.com
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