Independence

PRAG is an independent financial and investment advisory firm wholly owned and managed by its employees. The independent nature of PRAG means that its sole focus is on its public finance clients’ interests. PRAG focuses primarily on how best to achieve the lowest cost of funding for its clients. It is important to have an independent firm rather than a financial service company with a broker-dealer operation as financial advisor to ensure that the issuer’s concerns receive maximum support.

Record of Integrity

PRAG is very proud of its record of integrity. We are not, and have never been, the subject of an investigation. None of our clients have been involved with "yield burning." As a result, the Securities and Exchange Commission engaged PRAG to assist in evaluating the yield burning issue facing state and local governments. Moreover, we do not make political contributions to municipal issuer officials nor do we retain outside consultants for new business purposes.

Cost-Benefit, Trusted Advice

With the savings produced through our analytical skills, knowledge of credit and advice on pricing, PRAG's services pay for themselves many times over. Most importantly, clients are assured that their financial objectives are accomplished at a minimal degree of risk and that their interests are always protected.