Headlines for March 29, 2017
Holders and insurers of $11.9 billion of bonds sent a letter to the Puerto Rico Oversight Board arguing that its fiscal plan breaks the law by ignoring creditor rights.
Kansas City, Missouriís $800 million request is the biggest bond measure on April 4 ballots in Midwestern states, where voters will decide the fate of more than $2 billion of municipal borrowing requests.
New Jersey Gov. Chris Christie signed legislation Monday allocating $400 million from the state's Transportation Trust Fund for immediate road, bridge and transit projects in the current fiscal year.
A half-fare subsidy for lower-income persons would further strain New York Cityís budget, transportation Commissioner Polly Trottenberg told a City Council panel.
Moody's Investors Service is asking market participants to comment on a proposal to publish certain internal issuer ratings.
Moodyís Investors Service assigned Industry, Calif.ís bonds a negative outlook ahead of a scheduled bond sale.
Marylandís congressional delegation wants President Trumpís help in reviving a stalled FBI headquarters swap.
Atlantaís water and sewer bonds won a one-notch rating boost to Aa2 from Moody's Investors Service ahead of a $232 million refunding deal scheduled to price April 25.
Illinois Gov. Bruce Raunerís veto of Chicagoís pension overhaul doesnít pose an imminent threat to the cityís credit, S&P Global Ratings said.
Investors with holdings in municipal conduit bonds that have been the subject of recent SEC enforcement actions over fraudulent commingling of assets are suing Bank of Oklahoma Financial, which served as the trustee for many of the faulty offerings.
Flint, Mich. will receive nearly $100 million in state and federal funds to replace thousands of water service lines under a settlement approved by a federal judge Tuesday.
The MSRB told the municipal market on Tuesday that its changes to move the settlement cycle to two days instead of three will be effective on Sept. 5 to align with the rest of the markets.
President Trump proposes $17.9 billion more budget cuts than Congress for fiscal 2017.
Mark Quinn and Christopher Hoffert have been hired by Stifel Public Finance to open the companyís new office in Philadelphia, the firm announced on Tuesday.
The head of the U.S. House Subcommittee that oversees Puerto Rico sent a letter to the islandís governor urging him to accept the already negotiated PREPA deal.
Top-quality municipal bonds ended stronger on Tuesday, traders said, as more supply hit the market, topped by the institutional pricings of Connecticut and San Jose deals.