Ratings

KBRA has placed Chicago's general obligation bond rating on watch for downgrade as the City Council prepares to vote tomorrow on a proposed property tax increase.

Wittstruck takes over the S&P role previously held by Robin Prunty, who retired in August.

The downgrade affects $2.1 billion in bond debt and extends to its utility debt.

San Francisco's slow recovery from the pandemic and continued financial pressures drove the downgrade, Moody's analysts said.

Tourism Development Tax, sales tax, and Professional Sports Facilities tax and revenue refunding bonds were upgraded, impacting $628 million of debt.

After the school board resigned, the rating agency put Chicago Public Schools on notice that it will watch how its tricky financial situation is handled.

After Minnesota's second-largest healthcare employer was downgraded by rating agencies, the Minnesota Nurses Association took aim at Allina Health's board.

Fitch revised upward its outlook for Marin General Hospital and affirmed its revenue bonds at BBB, and general obligation bonds at AA-minus.

The rating is a new milestone in the state's long road out of legislative dysfunction.

S&P Global Ratings placed more than 400 state and local government issuers under criteria observation as the agency adopts an updated rating methodology.

After getting positive outlooks from three rating agencies since 2023, Oklahoma received its first upgrade.

The agency cited a sustained commitment to healthy reserves and structural balance.

The city of Clyde defaulted in August and recently revealed it used debt proceeds for debt payments in a manner that "disguised the deficit cash flow."

Stagnant per-pupil state funding amid rising costs led to budget deficits, lower reserves, and ballot proposals to raise property tax rates for some districts.

The bank was one of 225 credits Moody's placed on review for possible upgrade July 25 when it released a revised rating methodology.

Mount Saint Mary College in New York saw its bond rating downgraded to BBB from BBB-plus by Fitch Ratings after persistent declines in student enrollment.

While the nonprofit hospital sector shows signs of stabilizing, Houston-based Texas Children's Hospital faces fiscal problems that led to two rating downgrades.

New Jersey is poised to sell up to $2.4 billion of bonds for its transportation infrastructure, according to a report from Fitch Ratings. 

Clyde, Texas, missed payments on certificates of participation due Aug. 1, the same day it declared a water emergency. Bond insurers are paying the holders.

Long-term liabilities have gone down and revenues have gone up, Fitch said.