Tonya Chin

While MBIA's bid for summary judgment on the issue of Bank of America's successor liability for Countrywide was denied, the ruling was not all bad news for the bond insurer.

LOS ANGELES - Standard & Poor’s attributes much of the above-average creditworthiness of U.S. state governments to the unique countercyclical economic and fiscal support that the federal government offers the states, while warning that such support may be waning.

After a steep decline in the floating rate notes market following the financial downturn, issuance has been steadily increasing in recent years as issuers and investors find value in the product.

Aiming to build upon its leadership in the Western states, RBC Capital Markets has announced that its municipal finance department has expanded to Salt Lake City.

After becoming the rating agency's new public finance head, 30-year Standard & Poor's veteran Steve Murphy has made some changes to the department's organizational structure in order to increase its effectiveness.

Different types of general obligation bonds have different types of characteristics and credit risks, which investors need to be aware of, according to a report from Kroll Bond Ratings Agency.

Issuers said they found value in JPMorgan's Transportation and Utility Conference.

Piper Jaffray announced Wednesday that it will acquire Seattle-Northwest Securities, pending shareholder approval at Seattle-Northwest. The deal is expect to close in the second half of 2013.

According to a recent report from Standard & Poor's, housing finance agencies have fared better than states in terms of credit in the years following the recession.

Orrick Herrington remained number one among bond counsel during the first quarter, but other law firms jumped around in rankings. Assured Guaranty is still number one among bond insurers, while Build America Mutual gained a significant chunk of the market share.

Build America Mutual Assurance Company continues to grow its municipal bond insurance business with the addition of four new industry professionals.

The S&P Case Shiller index for January saw its greatest year over year increase in home prices since 2006, a development that could improve budget situations among local governments.

Ambac Financial Group, Inc. has agreed to settle with the Internal Revenue Service for $102 million, which will bring it one step closer to completing its reorganization plan.

A recent settlement between the U.S. Consumer Financial Protection Bureau and four mortgage insurers regarding the investigation into alleged kickback payments is a credit positive for the insurers, according to Moody's Investors Service.

PNC Capital Markets has added three industry professionals to its public finance team, including two new hires and one new appointment.

Standard & Poor's has revised most of its economic forecasts for state and local governments up, saying sequestration will not likely hinder economic expansion.

After wrapping 4 bond issues in 2012, Build America Mutual Assurance Corporation has seen a significant increase in business during the first quarter of 2013, insuring 114 transactions.

JPMorgan's Gary Hall will join Siebert Brandford Shank & Co. in June as its national head of public finance banking.

The New York Appellate Court today overturned a summary judgment ruling regarding how MBIA can seek to recover losses from Bank of America Corporation.

Standard & Poor's has proposed new criteria for rating affordable multifamily housing bonds, which could result in downgrades of 10% of rated issues.