Moody’s Investors service said it has downgraded Chautauqua County, N.Y.’s long-term general obligation rating to A1 from Aa3, affecting around $55.7 million in outstanding unlimited-tax debt.
The downgrade reflects the county’s weakened financial position due to recurrent operating deficits, with another deficit expected in the current fiscal year. The A1 rating also reflects the county’s moderately sized tax base.
The Inflation Reduction Act, affordable housing and clean energy were among the topics discussed at Baker Tilly's DevelUP conference in Chicago this week.
The replacement Hollywood Burbank Airport terminal won't have more gates, but will be less cramped and resolve its noncompliance with FAA safety regulations.
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
The law firm revealed 2024 promotions.
As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
The extension of the current solar net metering system could lower revenue for the utility.
