Moody’s Investors Service upgraded Mannheim School District 83 in Cook County, Ill., to Aa3 from A1, affecting $21.2 million of outstanding general obligation limited-tax debt.
The rating upgrade is based on an improved financial position marked by consecutive years of large operating surpluses. The Aa3 rating also factors in a moderately sized, mature tax base, located in Aa2-rated Cook County.
A combination of a "stronger-than-expected economy, higher Treasury rates, robust supply, and rich valuations resulting in choppy markets" have made the trading environment in H124 "quite difficult," according to Barclays.
Two rating agencies upgraded Los Angeles Unified School District's bond ahead of multi-billion dollar refunding.
The Basel III Endgame proposal to restructure capital holding levels comes under fire.
Friday price talk for the unrated tax-exempt paper was between 11% and 15%.
The board approved that step at its second quarter board meeting held this week.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
