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Illinois Warned on Its Budget, Pension Strains
November 25, 2015 Illinois’ economic strengths and fiscal flexibility as a sovereign state won’t shield it from further credit erosion, which...

Detroit Water and Sewer Bows Out with Deal, Upgrade
November 24, 2015 With a fresh upgrade in hand and the prospects of more to come, Detroit's water and sewer department is selling its final deal...

S&P Stings Chicago Sales Tax Credit
November 23, 2015 Chicago's top-rated sales tax credit took a three notch blow over the city's budget and pension strains.

Ohio Community Hospital Junked
November 23, 2015 Standard & Poor's stripped Ohio-based Alliance Community Hospital of its investment grade rating based on revised stand-alone,...

Ohio Schools Get Good News
November 23, 2015 Ohio Gov. John Kasich's signing of legislation that partially restores an expiring school funding revenue source is a credit...

Another Black Mark For Chicago Schools Credit
November 23, 2015 The credit picture for the already junk-rated Chicago Public Schools has become even bleaker as Standard & Poor’s placed the...

Cook County's Pension Plan 'Novel' But Legally Untested
November 20, 2015 Cook County’s plan to veer from state law and make an actuarial-based pension contribution offers a “novel approach” that...

Wisconsin Village's Outlook Improves on Debt Monitoring
November 20, 2015 Standard & Poor's has revised its outlook to positive on Whiting, Wis.'s BBB-minus rating citing new practices in place to...

Cleveland Hopkins Projects on Time, Outlook Stabilizes
November 20, 2015 Cleveland Hopkins International Airport’s $60 million of ongoing terminal and parking projects are on time and on budget,...

Cook County Adopts Budget With Hotel Tax
November 19, 2015 Cook County, Illinois board President Toni Preckwinkle defended its newly approved $4.5 billion 2016 budget, which relies on...

Career Zone


New York State Assemblyman Phillip Goldfeder, D-Queens, examines outer-borough growth and transit needs in New York City, as well as efforts to harden its water-exposed neighborhoods.

The notion of option-adjusted spread (OAS) is the standard analytical tool for taxable fixed income securities. It is also making inroads into the muni market. Unfortunately the usual implementation for munis is flawed, rendering the results virtually meaningless. So it is understandable that many muni professionals shy away from OAS in favor of the archaic ‘yield-to-worst’ approach. Correct implementation would undoubtedly attract converts.

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