Ratings

Moody's Investors Service upgraded the Connecticut capital city's issuer rating to Baa3 from Ba2.

"The limited scope of muni debt affected suggests a marginal impact on the muni market, if any," BofA strategists said.

The Tennessee Valley Authority has $19 billion of outstanding bonds and provides power to 10 million people.

The revenue bonds were issued through the California Municipal Finance Authority on behalf of LAX Integrated Express Solutions, the P3 project developer.

The upgrade "is driven by sustained improvements in the city's income tax collections and the city's superior gap-closing capacity," Fitch said.

S&P analyst Anne Cosgrove cited "Kentucky's commitment and execution to strengthen its budgetary flexibility and long-term financial stability."

Ted Damutz and Lina Santoro have joined Kroll Bond Rating Agency as directors in the public finance department in New York City.

The upgrades brought the Orange County Transportation Authority managed lanes toll credit to double-A levels across the board.

"The state has not issued general obligation debt since July 2022 and will be able to take advantage of strong summer redemption money," said Mary Garver, director of bond financing at the Georgia State Financing and Investment Commission.

Weekday ridership on the farebox-dependent regional transit system is below 40% of pre-pandemic levels. Some lawmakers are pushing a state transit rescue package.