Markets

Issuance for the week of Sept. 2 is at an estimated $7.457 billion, with $6.179 billion of negotiated deals and $1.278 billion of competitive deals on tap, according to LSEG.

Legacy Health, an eight-hospital Portland, Ore.-based healthcare system, that abandoned merger plans in May received a downgrade and negative outlook from Moody's Ratings.

The world's biggest opera house has been downgraded for the second time this year.

With the break in issuance this week, the market has firmed a bit, said Tim McGregor, managing partner at Riverbend Capital Advisors.

Paul Chatalas, director of capital markets for the state, said the six series of bonds drew "aggressive bids."

While issuance has been on a record pace this year, this week sees a slight slowdown in activity, caused by participants going on vacation, said Jeff Timlin, a partner at Sage Advisory.

In a 2-1 vote, county commissioners approved an Oct. 8 competitive general obligation bond sale to keep funding a jail project amid escalating costs.

While issuance is up year-over-year, weeks like this can be difficult to find the right deals, said Whitney Fitts, director of municipal portfolio management at Appleton Partners.

Proceeds of the sale are expected to fund the purchase of the non-gambling businesses at Genting Group's Resorts World Catskills in Sullivan County.