Case Study: Cincinnati, Ohio
Cincinnati, OH – Davenport began our relationship by undertaking a Comprehensive Financial Review of the City that identified credit strengths and weaknesses, debt capacity limitations and provided a multi-year strategy for accelerating capital funding. Since our initial engagement, Davenport has assisted the City through comprehensive debt capacity modeling for its general tax supported needs and pro forma financial and credit metric modeling for its water enterprise system known as the Greater Cincinnati Water Works. Our debt capacity and debt affordability modeling led to the implementation of multi-year capital funding with competitive and negotiated bonds, as well as, direct bank loans that enabled the City to accelerate critical capital needs while maintaining and improving its credit ratings. We also assisted the Greater Cincinnati Water Works in the development of a multi-year plan of finance that helped maintain its “AAA” ratings, fund critical water investment and mitigate pressure on rate increases.