ROY P. WEINBERGER
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SCOPE OF SERVICES

Our research, advisory, consulting and other services are the product of founder Roy P. Weinberger’s broad credit and financial analysis experience. For investors, financial institutions and other fixed income managers, we provide distinctive and timely credit research. Our research service is unique in that it focuses entirely on those instruments of concern or importance to our client. We do not offer a subscription service. Analyses are customized to suit each client’s needs. Effectively, then, we become a non-payroll member of your research staff, adding our distinctive analytical approach and broad credit expertise to your own perspectives. And since you only receive the analyses requested, there is no deluge of extraneous information to sort through.

We offer two closely related credit research services:

  1. Our Special Reports Service allows the client to request analyses as needed on a designated number of firms over the term of the agreement, usually one year. Such analyses are usually requested in connection with new issue purchases or when the client suddenly becomes concerned about a credit already in portfolio. Each report discusses our view of the current risk profile and prospects for credit quality and credit ratings over an intermediate time horizon. For comparative purposes each report also includes a proprietary Default Risk Ranking, under which we separately evaluate and score Business Risk, Financial Risk, Management Risk and, if relevant, Issue Structure and Covenant Protection, and then consider them all in assigning an overall Default Risk Ranking. Further distinguishing our reports is inclusion of a unique Event Risk Vulnerability Ranking, through which we assess the likelihood of dramatic change in the financial or business profile over the next two years, caused by forces other than the firm’s own operating fundamentals. The typical report is four to six pages plus appropriate statistics.
  2. Under our Portfolio Monitoring Service we monitor for one year the credit quality of whatever number of firms are specified in the agreement. Usually these are firms already in portfolio, but that is not a prerequisite. We prepare one-two page analyses at least quarterly in which recent credit performance and prospects are discussed. These reports also contain Default Risk and Event Risk Vulnerability Rankings.

Besides our written work, we typically speak with each client once a week, or more frequently if circumstances dictate, and visit once or twice a year for a full portfolio review, as agreed.

In addition to our core research services, we assist investors, lenders and borrowers in a variety of credit-related activities. Examples include:

  1. developing credit risk analysis systems and processes that are Basel II compliant;
  2. conducting risk diversification and exposure analyses, recommending appropriate limits, and monitoring ongoing performance;
  3. providing small group credit training;
  4. preparing borrowers to present themselves more effectively to lenders, fixed income investors and rating agencies for purposes of establishing, improving or protecting their credit relationships/ratings, and;
  5. delivering expert witness testimony on credit-related matters.
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