Ratings

The deal announced by Mayor John Whitmire last week would end an eight-year-long impasse with the firefighters union and require $650 million of judgment bonds.

The rating agency cited the university's structural budget imbalance and management turnover among factors that drove the outlook revision to negative from stable.

S&P cited budget pressures that have not been counterbalanced by new revenue growth when lowered the outlook on the city's BBB-plus rated GO bonds.

Moody's Investors Service placed the university under review for downgrade, citing in part debt that would be issued to purchase the University of Phoenix.

Fitch said its upgrade "reflects the removal of the asymmetric additional risk relating to potential general fund exposure to the county's enterprise sewer system … which reflects the system's recent restructuring of its outstanding debt."

Oklahoma is on a roll, notching its third positive rating outlook since July with the latest move coming from Fitch Ratings.

Higher interest rates, inflation and slower economic growth could create headwinds for the U.S. public finance sector, S&P Global Ratings said.

Moody's Investors Service cited thinning operating performance for the downward outlook revision.

Moody's Investors Service bumped Chicago's outlook to positive from stable, while affirming the city's Baa3 issuer and general obligation bond ratings.

S&P's outlook revision to positive means there is a one-in-three chance the state could have its AA-plus rating upgraded to AAA over the next two years.

The Chicago Board of Education on Wednesday saw its issuer rating and debt ratings from Moody's Investors Service elevated a notch to Ba1 from Ba2.

The agency plans to broaden its current market share and expand into new sectors.

The state of Illinois is preparing to issue $600 million in new Build Illinois junior sales tax revenue bonds next week.

Labor costs that continue to squeeze operating margins remain the biggest obstacle for the nonprofit healthcare sector.

Three districts are under Washington's state fiscal oversight and the largest, Marysville School District, took a multi-notch Moody's bond rating downgrade.

North Las Vegas was upgraded to A-minus from BBB-plus by Fitch Ratings, which kept its positive outlook.

Medford, Oregon-based Asante Health enters 2024 with negative outlooks from Fitch and S&P as it works to complete expansion projects amid industry headwinds.

Fitch Ratings upgraded the Riverside County Interstate 15 managed lane project two notches, affecting $152.2 million in debt.

The $68 billion deficit reported for California's budget is an eye-opening figure but the revenue trends are less dramatic when viewed over multiple years.

A hotel tax that supports the authority's bonds has recovered strongly from the pandemic, the rating agency said.