Retail sales grew 2.5% in the week ended September 1, according to the weekly retail sales report released by Johnson Redbook Wednesday.
September was up 2.5% compared to September of last year (relative to a revised target of a 2.2% gain).
Month-over-month showed a 1.7% gain (relative to a target of a 1.5% gain). September is a five-week month on the retail calendar ending on September 29th.
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.
S&P affirmed the state's AA issuer credit rating, citing healthy reserves and plans to increase permanent fund totals to mitigate revenue fluctuations.
The top five bond financings have an average dollar volume of more than $1.9 billion.
