Public Finance in Maryland

Davenport has been a full service advisor to Maryland’s most populous triple-AAA rated jurisdiction for over two decades advising on a multi-billion dollar program and the inauguration of two new revenue bond credits.

Case Study: Montgomery County, MD

Davenport has been a full service advisor to Maryland’s most populous jurisdiction for over two decades. The County is a sophisticated and complex triple-AAA credit. In addition to advising on the County’s multi-billion dollar general obligation borrowing program, we inaugurated two revenue bond programs, one secured by the net profits of the County’s Alcoholic Beverage Services (formerly Dept of Liquor Control) enterprise to fund capital projects, and the other by the County’s water quality protection charge to fund storm water management. Beyond debt issuance, we have assisted the County with debt capacity/affordability, rating methodology, and fiscal reserve studies, as well as analysis of the potential fiscal and rating impacts of bills introduced by the County Council. Davenport continuously monitors the County’s debt portfolio and has assisted it with numerous refunding issues that have repeatedly generated budgetary savings consistent with established refunding policy. In 2020, we advised and assisted the County in obtaining an operating line of credit as a margin of safety in the event of severe revenue dislocation caused by the COVID-19 pandemic.

Public Finance Services

Davenport Public Finance assists our clients with a comprehensive range of services.

  • Strategic Financial Planning

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  • Transaction Services

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  • Investment Management

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  • Rating Agency Interaction

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  • Economic Development

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  • State Credits and Financing Programs

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  • Strategic Consulting Services

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Our Philosophy

Pro-Active · Holistic · Team Oriented · Fiduciary

We emphasize working with our clients at the beginning of the planning process through the use of comprehensive modeling and analytics.

Davenport has consistently ranked in the top 10 Financial Advisors in the nation for competitive transactions.*
*Source: Refinitiv, formerly Thomson Reuters.

Brief Overview

  • $21.5B

    Volume since 2014
  • 400+

    Transactions since 2014
  • 500+

    Clients served
  • 30+

    Professional Team Members

Meet Our Team

Davenport's 30+ professionals have extensive experience and backgrounds that include bond law, senior credit rating analysts and accounting.

Davenport has consistently ranked in the top 10 Financial Advisors in the nation for competitive transactions.

Public Finance

With a commitment to helping our clients grow, we have developed one of the largest, regional public finance practices in the Mid-Atlantic/Southeast.*

*In terms of number of transactions and volume in MD, VA, NC, SC and GA. Source: Refinitiv, formerly Thomson Reuters.

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