Moody’s Investors Service said it has upgraded to A2 from A3 the rating assigned to the Sacramento Regional Transit District’s Series 2003B certificates of participation.
The outlook is stable. The COPs were issued through a lease agreement secured solely by a pledge of gross farebox revenues.
The upgrade reflects the gross farebox pledge, enhanced by a non-abatement clause; minimal debt levels; satisfactory financial operations; and the essentiality of the transit system.
The California Supreme Court will hear a case challenging the state's 2013 pension changes, after seemingly settling the issue with a 2020 ruling.
The "impressive" investor appetite for tax-exempts has been "holding steady all quarter despite expensive valuations, supply surges and periods of low reinvestment demand," said GW&K Investment Management strategists in a report.
As space becomes an increasingly important frontier for development and competition, spaceports should enjoy the same financial benefits as airports and seaports, say supporters of the federal legislation.
The governor should have involved the legislature earlier in decision making on how to give the Water and Power Authority money to make a bond payment, lawmakers said.
A Utah law may be tapped to issue bonds to renovate a downtown Salt Lake City basketball arena to accommodate the former Arizona Coyotes.
Along with UBS' departure from the negotiated underwriting space, various firms have hired talent from both firms to increase their primary and secondary market presence. Many hope for some positive effects in both competition and secondary market liquidity as a result.
