Standard & Poor's Ratings Services said it has raised its long-term rating on the town of Middletown, Del.'s general obligation bonds to A-plus from BBB-plus.
The outlook is stable.
"We base the upgrade on our assessment of the town's improved budgetary flexibility and liquidity driven by a stabilized management environment, coupled with conservative budgeting practices," said Standard & Poor's credit analyst Timothy Daley.
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.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
