Public Finance in West Virginia

Davenport assisted the Red Sulphur District in developing and implementing a comprehensive plan of finance that included financial ratio targets, resulted in cash flow savings and maximizing cash flow flexibility for future needs.

Case Study: Red Sulphur Public Service District

Over the past half-dozen years as Financial Advisor to the Red Sulphur District (in Peterstown, WV), Davenport has assisted with developing a pro-forma financial model of the utility system, refinancing of the District’s revenue bond debt and development of recommendations for key utility financial ratios including days cash on hand and debt service coverage. Working with the District’s bond counsel, Steptoe & Johnson LLC, we collectively made recommendations to optimize both refinancings, which required approvals of the State’s Public Utility Commission. The savings resulting from the refinancings were structured in a targeted time period in order to maximize the District’s cash flow flexibility. This approach provided the ability to effectively layer in additional new debt for capital needs while minimizing future rate increases.

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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