The headline and top of Tuesday's front-page story on the Government Finance Officers Association's debt committee meeting last weekend incorrectly suggested that the group had altered its position on disclosure. While some prominent members of the panel said issuers should discuss whether to disclose additional voluntary information, primarily tied to derivatives, they were not speaking on behalf of the entire GFOA.
The company expects construction to take four years, with operations beginning in summer of 2028 ahead of the Los Angeles Olympics.
Los Angeles Mayor Bass' proposed $12.8 billion spending plan aims to close a $467 million deficit.
Fitch Ratings said the negative outlook on the BB-plus rating reflects Miami Jewish's thin operating profile.
The new-issue calendar will be a "good test to see if the higher absolute yields can pull buyers off the sidelines or if underwriters need to widen spreads significantly enough to reprice the entire market to clear the deals," according to Birch Creek strategists.
The state of emergency will let the governor use the central government's rainy-day fund to provide money to WAPA that semi-autonomous agencies of his government owe the authority. WAPA will use the money to make payments to bondholders and other creditors starting Tuesday.
"The upgrade is supported by strengthened debt service coverage ratios due to better than expected recovery from the pandemic," Fitch said.
