Taylor Riggs

Kohlberg Kravis Roberts & Co. is buying financial data and software company Ipreo LLC from private investment firm Veronis Suhler Stevenson. The terms of the deal were not disclosed, but the transaction is expected to close in the third quarter of this year.

Despite attractive borrowing rates, issuers continue to hold back, with new-issue volume slipping for a third week, putting it on schedule to be the fourth-slowest so far this year.

With health care reform and the passage of the Affordable Care Act, the industry faces increasing uncertainty over how an organization will be able to manage with less robust revenue and accelerating consolidation, according to a new study by National Public Finance Guarantee Corp.

The Arts & Business Council of New York will honor a municipal finance lawyer for her compliance work in relation to tax-exempt financing for the Roundabout Theatre Company’s Studio 54.

Syncora Guarantee reported positive net income for the first quarter but said it faces liquidity problems that threaten its future long-term obligations.

Robert Mills, chief financial officer of Assured Guaranty Ltd., will become chief operating officer, effective June 1. He will fill the role that has been vacant since March 31, when Séan McCarthy resigned.

New muni issuance is edging up.

BMO Capital Markets is on a hiring spree as the firm opens up two new sales offices and expands its municipal research team. The bank has been hiring for several months now as it seeks to expand its presence in the muni market.

MBIA Inc.’s chief executive officer said Wednesday that it is only a matter of time before the troubled bond insurer is reimbursed by financial institutions for its losses related to residential mortgage-backed securities that it insured during the housing boom.

MBIA Inc. reported first-quarter earnings on Tuesday, posting an adjusted pre-tax income of $25 million compared to a loss of $90 million for the same period in 2010. But it was not enough to boost investor confidence and shares sank 2.79% to $9.75 in after-hours trading.

Assured Guaranty Ltd. reported higher operating earnings than expected in the first quarter due to a large out-of-court settlement, but said new business production in public finance fell by about one-half compared to the same quarter last year.

M.R. Beal & Co. has hired James Cortese as a senior vice president and underwriter in the fixed-income sales and trading department. He reports to Jay Alpert, head of municipal sales, trading, and underwriting activities.

Ambac Financial Group Inc., the holding company for bankrupt bond insurer Ambac Assurance, has agreed to settle a lawsuit claiming it misled shareholders about the risks the company took on insuring subprime mortgages.

MBIA Insurance has filed a motion in the New York State Supreme Court seeking documents from Credit Suisse about residential mortgage-backed securities it insured. According to the lawsuit, Credit Suisse failed to follow guidelines it established with the insurer and MBIA has suffered large losses as a result.

New issuance remains sparse with a light calendar this week on the heels of last week’s slim pickings.

Sterne Agee has hired Justin Resuello as a municipal credit analyst as the firm continues to expand its footprint within the municipal sector. Resuello joins the Birmingham, Ala.-based firm’s New York office.

Piper Jaffray & Co. has opened a new office in Charlotte, N.C., and made its first four hires as the investment bank continues its national expansion and strengthens its presence in the municipal trading and sales arena.

NEW YORK - The New York State appeals court has ruled that the New York Insurance Department must hand over e-mails and documents regarding the restructuring of bond insurer MBIA Insurance Corp.

Whether the New York Insurance Department can appeal a ruling that ordered it to hand over e-mails and documents regarding the restructuring of bond insurer MBIA Insurance Corp. could be decided soon.

Long-term municipal bond issuance remains extremely light so far in 2011, down 53% through the end of April versus the same period last year.