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Public Finance Automated Scoring Tool (PFAST)

An automated municipal credit scoring and data solution

  • The challenge
  • The solution

Automate Data Collection and Credit Scoring of Your Municipal Exposures

The US Public Finance sector comprises tens of thousands of rated and unrated issuers. Many institutions, governments, and corporations need to assess the credit quality of these issuers, but often spend more time gathering the necessary data than conducting a robust credit risk analysis.

Automate Data Collection and Credit Scoring of Your Municipal Exposures

PFAST is an automated scoring and data solution to measure the credit risks of State & Local Governments and Enterprise-driven segments, such as Water & Sewer, Higher Education, Transportation, and Healthcare.

What’s the Bottom Line: Credit Impact of COVID-19 on US Municipals

From October 2020 onwards, U.S. municipal issuers started reporting the first audited financial statements for the period ending June 30, 2020. At S&P Global Market Intelligence, using our Public Finance Automated Scoring Tool, (PFAST), we analyzed the data contained in the reports from 1,548 municipal issuers to understand the impact of the pandemic on local governments. We believe these are the first financial results that reflect the impact of COVID 19 on U.S. local governments.

How can we tell which local governments will be most impacted by the pandemic?

View the infographic

Proactively Manage Municipal Exposures

Gain the insights you need to quickly and efficiently evaluate credit risk

CUSIP-driven automated surveillance portfolio tool that generates credit sub-scores and final scores in minutes. These scores act as an early warning indicator by leveraging the most current financial and economic data updated on a monthly basis.

Download the Automation and Data Collection Brochure

Portfolio Monitoring


Source: PFAST, S&P Global Market Intelligence, February 2021. For illustrative purposes only.

PFAST Coverage

Scorecards for the largest five U.S. Public Finance segments, including: General Obligations, Water & Sewer, Not-for-Profit Higher Education, Not-for-Profit Healthcare, Health Care, and Transportation. These five segments comprise approximately 90% of the U.S. municipal sector.**

Learn more with the PFAST Methodology Brochure


Helping to Evaluate U.S. Public Finance during COVID-19 Pandemic

SEE BELOW

  • Credit Impact of COVID-19 on US Municipals: Vlog
  • Which Local Governments will be most impacted by the Pandemic?
  • How US Transportation Credit Quality is Affected by COVID-19
  • COVID-19 – Five Key Risk Factors Now Driving State Credit Quality
  • Risk Insight: COVID-19 From Safe Harbor to Rough Seas – The Choppy Outlook for US Public Finance

From October 2020 onwards, U.S. municipal issuers started reporting the first audited financial statements for the period ending June 30, 2020. At S&P Global Market Intelligence, we analyzed the data contained in the reports from 1,548 municipal issuers to understand the impact of the pandemic on local governments. We believe these are the first financial results that reflect the impact of COVID 19 on U.S. local governments.

How can we tell which local governments will be most impacted by the pandemic?

Watch to discover five key takeaways from our study

In a few weeks, hundreds of cities, counties, and school districts with fiscal years ending on 6/30 will publish their annual financial statements. Typically, this is a routine event, but not this year. These financial statements will offer the first detailed picture showing the fiscal impact of COVID-19 on local government finances. How can we gauge the impact on local governments?

WATCH VIDEO

The COVID-19 pandemic has been a disruptive force that has dramatically changed the US transportation industry. In four months, the precipitous decline in public transit ridership, air traffic, parking, toll road transactions, port container volumes, and overall mobility--up to 95% in some subsectors--has contributed to the current recession and the sharpest contraction in economic activity since World War II.

At S&P Global Market Intelligence, we ran different transportation scenarios to better understand the potential impact on the credit quality of each sector. Leveraging our Public Finance Automated Scoring Tool (PFAST), there appear to be five key risk factors that are now driving transportation credit quality.

WATCH VIDEO

For decades, US state governments have been the epitome of credit stability. However, the impact of the COVID-19 pandemic has been so intense that in just a few months, there has been an accelerating need for the federal government to provide direct financial assistance to states. In this vlog, we explore the potential impact of this pandemic on the credit quality of state governments.

WATCH VIDEO

COVID-19 has adversely disrupted nearly all sectors. In the United States, few asset classes could experience the magnitude of potential credit deterioration as US Public Finance (USPF). For years, USPF has been a safe harbor for investors as rated entities experienced a minimal amount of defaults. Now, with many segments of the US economy closed, are we headed for choppy seas?

WATCH VIDEO

PFAST Scorecard Business Applications

PFAST provides a granular, transparent, and consistent framework for the measurement and assessment of credit risk. It facilitates multiple business applications, including:

  • Loan origination
  • Investment opportunities
  • Portfolio analysis
  • Customer finance
  • Insurance
  • Bond pricing

Features Benefits
Automated quantitatively derived PFAST Scoresfor all U.S. cities, counties, school districts and states. Productivity gains with automated data collection and credit scoring.
The scope of application includes Cities, Counties, School Districts, States, Water and Sewer Utilities, Healthcare, Higher Education and Transportation. Single-source solution that allows you to score more than 90% of the U.S. municipal market.*
Training and ongoing support from the analytical team. PFAST client training workshops and easy to use Scorecard User Guides help to ensure a successful implementation.
Rigorous, tested and fully documented approach supported by explicit scoring criteria and extensive user and technical documentation. PFAST enhances consistency and transparency of internal rating systems in an easy to understand approach.
A large and continually growing database of municipal entities financials and economic data for the major PF segments. Ability to tap into a detailed source of PF credit risk data and generate automated scores in key segments.

Are you looking to better manage your municipal exposures?

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Read our case studies


 

*Data as of August 2020.

**As of February 2021.