Munis Keep Top Pick Status at Merrill
The firm’s positive view of municipal bonds stems from their tax benefits, overall improvements in fiscal issues, such as pension reform, and generally rising revenue among states and municipalities.
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Texas A&M University will take advantage of its top credit rating in a competitive sale of $289 million of Permanent University Fund bonds. more »
A Kentucky attorney says there's no evidence to support a lawsuit on behalf of Paducah Power against Prairie State or its developer, Peabody Energy. more »
The Central Florida Expressway Authority won a 1.23% interest rate on a 35-year TIFIA loan Wednesday, the program's lowest-ever long-term rate, a federal transportation official said. more »
Pennsylvania Gov. Tom Wolf is creating a competitive procurement process for selecting bond counsel, calling the move vital to overhauling state government. more »
Fitch Ratings upgraded bonds issued by the California Department of Water Resources after a state of emergency was declared in 2001 to deal with soaring energy prices. more »
The Ohio State University wants a private firm to take over its energy system for 50 years in exchange for an upfront cash payment, marking another first for a public university. more »
Tobacco bonds may be on their way to the biggest volume since 2007, led by Wednesday's $1.7 billion sale from California, as issuers refinance amid a decline in smoking that's cut deeply into revenue. more »
Former RBC Capital Markets managing director Mel Schonhorst achieved a measure of success after seven years trying to clear his name in a Texas investigation that cost him his job though he was never accused of anything. more »
The West Texas city of Lubbock will price a $131 million general obligation bond refunding and $99.3 million of certificates of obligation for its water and sewer program. more »
RBC Capital Markets purchased a $246 million bond anticipation note from Puerto Rico Monday, supported by a recently passed oil tax increase. more »
The New York City Municipal Water Finance Authority intends to sell about $475 million of refunding bonds on March 31 after a one-day retail period. more »
The Georgia Supreme Court affirmed the validation of $200 million in bonds for the Atlanta Falcons' new stadium on Monday. more »
A successful sale of unrated Mello-Roos bonds backed by undeveloped land may be an indication that investors are willing to buy California dirt bonds again. more »

Some local governments may require extraordinary financial assistance from the Commonwealth, adding to pressure on its general obligations.

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