Standard & Poor's Ratings Services said it has lowered its long-term rating on La Vernia Higher Education Financial Corp., Texas' $8 million series 2009 education revenue bonds, issued on behalf of Winfree Academy Charter Schools to BB-minus from BB.
The outlook is stable.
The downgrade reflects our assessment of Winfree's continuing enrollment declines with a highly transient student population, limited operational flexibility, and a decline in liquidity.
"Bond market investors are all wishing that April was behind us as they are anxious to hear the Fed's statement at its next FOMC meeting," noted BofA Global Research. "The statement should be no surprise as the market consensus has converged to 'higher for longer' rates.
CDIAC's revamped website, which launches May 1, will offer accessibility to state and local debt from issuance through maturity; and the ability to create summary reports based on search features.
The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.
The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
