Moody's Investors Service said it has placed the Aa3 rating of Solebury Township, Pa.'s $32.6 million of general obligation unlimited tax debt under review for downgrade.
The review reflects the township's relatively high exposure to variable rate debt and the township's limited liquidity to handle any potential increases in the interest rate or acceleration of the principal of this debt.
Moody's expects to conclude its review of the township's rating within 90 days.
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.
