Ratings

Moody's cited the airport's "significant improvement in liquidity" and "continued enplanement recovery" in its decision to upgrade the rating to Aa3.

Negative rating and outlook revisions for U.S. K-12 public school districts rose markedly from 2024 to 2025, according to S&P Global Ratings.

Fresno, California, received a boost to positive from stable on its senior lien airport revenue bonds.

The one-notch upgrade to AA-minus for Oklahoma's flagship university was assigned to an upcoming approximately $160.7 million bond refunding.

Chicago Public Schools went to market this week with nearly $1.1 billion of refunding bonds in the largest municipal transaction the district ever completed.

The upgrade is driven by realized and expected improvement in the state's financial metrics, the rating agency said.

North Carolina's triple-A ratings were affirmed ahead of plans to sell up to $506 million in general obligation and limited obligation bonds.

A six-notch downgrade gives the financially troubled city a non-investment grade rating of BB-plus with a negative outlook.

The ratings agency cited low days cash on hand and operating losses at the system, which operates one of the leading academic medical centers in Kentucky.

Illinois school districts face worsening credit pressure due rising personnel and special education costs and slower home price growth, S&P Global Ratings said.

La Marque's two-notch downgrade from Moody's follows a rating cut last month by S&P; both agencies put the city on review for potential further downgrades.

Fitch revised its outlook on the AAA-rated southern California to negative. The city is grappling with child sexual abuse claims from hundreds of people against one former employee.

The rating agency cited narrowing reserves and the expectation that the city will experience declining revenues next year.

The Baa3 rated government will now have more trouble supporting the struggling Guam Memorial Hospital, Moody's Ratings said.

S&P Global Ratings cut the Toms River Regional School District to A-minus from A, ending a negative CreditWatch but assigning a negative outlook.

S&P Global Ratings warned that Indiana's property tax reform law, Senate Enrolled Act 1, creates uncertainty for local income tax-backed debt.

It affirmed the California city's Aaa issuer rating, but cited the drag on revenues from tepid tourism numbers and liabilities from child sexual abuse claims.

Chicago is returning to market with a $375 million deal for O'Hare Airport, according to multiple rating reports, with more on the way.

The outlook revision to negative for the Texas Biomedical Research Institute cited weakened liquidity and reliance on federal grants, the rating agency said.

The college's most recent annual comprehensive financial report is for the fiscal year ending June 30, 2023, and S&P is concerned by the lack of timely reporting.