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Moody's Downgraded Par Exceeded Upgraded Par in 2015
Moody’s Investor’s Service downgraded more par value than it upgraded in 2015.
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Chicago State University officials have warned that the school could be forced to close if state funding isn't restored.
The head of the agency that accredits Illinois' state universities issued a warning to state leaders as the schools struggle in the absence of state funding because of a continued budget stalemate. more »
Thomas Schuette has been named Partner and Co-Head of Portfolio Management at Gurtin.
Thomas Schuette has been promoted to Partner and Co-Head of Portfolio Management at Gurtin Fixed Income Management LLC, the firm announced on Monday. Schuette's promotion is aimed at bringing the credit research and portfolio management teams closer together. more »
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was 11 basis points lower to 4.05% from 4.16% for the previous week. more »
“We believe many investors – individuals and institutions alike – may have higher risk exposure than may be appropriate,” says Warren Pierson, senior portfolio manager at Baird Advisors.
Investors should be wary of riskier market sectors, while increasing liquidity and credit quality as they position their portfolios for the year ahead, Warren Pierson, senior portfolio manager at Baird Advisors said. more »
Puerto Rico released details of a proposal to restructure the commonwealth's debt that would reduce the burden by 46 percent under a bond exchange more »
In the week ended Jan. 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose two basis points to 4.16% from 4.14% in the previous week. The BB40 Index is based on the price of 40 long-term bonds. more »
New York’s fourth largest township had its credit rating dropped by Moody’s Investors Service due to a lack of audited financial statements. more »
A Moody’s Investors Service commentary raised concerns about the Illinois state government’s backlog of unpaid bills.
Illinois’ rising bill backlog if left unchecked could pressure the state’s already battered credit rating, Moody’s Investors Service warns in a new commentary. more »
"The stock market has been volatile lately, and history suggests that in a market correction, state revenues will follow stock prices lower," said Gabriel Petek, an S&P credit analyst.
Stock market swings could affect California's credit quality, which is linked to its ability to maintain balanced fiscal operations that are heavily linked to the stock market's performance. more »
Pennsylvania's intercept programs for school districts remain a strong credit feature despite downgrades related to the state's budget impasse, said Janney. more »
“Lower supply and accelerating reallocation of cash stemming from calls and maturities have buoyed investors’ appetite,” said Jeffrey Lipton, head of municipal research and strategy at Oppenheimer & Co.
Market technicals – a lack of supply and significant Jan. 1 rollover proceeds – are bolstering municipal demand and price stability in the New Year so far, according to Jeffrey Lipton, head of municipal research and strategy at Oppenheimer & Co. more »
The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was one basis point lower to 4.14% from 4.15% for the previous week. more »
California Public Employees' Retirement System chief executive officer Anne Stausboll will retire.
California Public Employees' Retirement System chief executive officer Anne Stausboll announced Thursday that she will retire as the head of the nation's largest public pension fund. more »

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Gerrard Bushell, the new CEO and president for the Dormitory Authority of the State of New York, outlines his goals for one of the nation's leading municipal bond issuers with northeast regional reporter Andrew Coen.

While the SEC's MCDC Initiative has provided some clarity with regard to materiality and confirmed that the reasonable diligence standard of Rule 15c2-12 applies to both negotiated and competitive deals, no clarity has been offered with regard to the extent of the reasonable diligence obligations of those participating in competitive deals, as co-managers, syndicate members or selling dealers. ...

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