Caitlin Devitt has covered the municipal bond market since 2008. She began her journalism career at the Herald Newspapers on the South Side of Chicago, starting as a reporter and rising to Managing Editor. While at The Bond Buyer, she covered the Detroit bankruptcy among other Midwest-based stories. Devitt joined Debtwire Municipals in 2016, where she covered the high-yield municipal bond market for five years, before returning to the Bond Buyer as Senior Infrastructure Reporter. She lives in Chicago with her family.
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Fortress Investment Group bought the property in 2021 after it was largely destroyed by Hurricanes Irma and Maria and financed a major renovation that featured reinforcement standards designed to protect against a category 5 hurricane.
December 3 -
The new debt is a "bridge loan" until the company can raise fresh financing, a bondholder said.
December 1 -
Bonds have traded up since the company last week announced a tentative bondholder deal and project update and financing details.
November 24 -
Meridiam, ACS Infrastructure Development, Sacyr Infrastructure USA LLC and Plenary Americas are among the firms that have signaled interest in the project.
November 21 -
The deal would give the company time to seek additional equity, debt and federal funds.
November 21 -
Flows into high-yield muni mutual funds had slowed over the past several weeks, and the past two weeks have seen outflows.
November 20 -
The project was the Georgia's first revenue-risk P3 and lays the groundwork for future express lane P3s.
November 20 -
The massive I-285 East express lanes project in metro Atlanta will be procured in two phases.
November 18 -
Two House municipal finance caucus members are running for Senate next year.
November 14 -
Rural providers face $137 billion in federal Medicaid cuts from the One Big Beautiful Bill Act.
November 13 -
A planned vote on health insurance subsidies will be key to how Congress handles the next funding cliff at the end of January, market participants said.
November 11 -
Assured Guaranty commented on Brightline and PREPA during its third-quarter earnings call, on which the company reported a 46% increase in third quarter gross par written year over year, to $7.85 billion from $5.38 billion.
November 10 -
The industry for years has lobbied Congress and the Treasury Department to make the changes, but the issue has taken on more urgency amid a data center boom that promises to transform the U.S. energy landscape
November 7 -
The ruling comes as the municipal bond market closely watches the administration's effort to control federal infrastructure spending.
November 5 -
House Republicans hope to mark up the next surface transportation bill early next year.
November 4 -
Meanwhile, the Brightline West train project has floated a possible debt exchange ahead of its own mandatory redemption later this month.
November 3 -
States have spent weeks preparing for how they would cover the $8 billion shortfall in food stamps for the month of November.
October 31 -
Logan comes to the firm from Raymond James; before that he was a longtime Citi banker.
October 29 -
Contractors that have been absorbing cost increases in fixed-price projects may insist on the more flexible pricing built into progressive design-build delivery models.
October 28 -
Jamie Doffermyre has worked in munis at Truist Securities, Citi and Merrill Lynch.
October 24
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