Ratings

The rating is the first so far released for a controversial debt sale that will begin financing a $5 billion, 15-year toll road expansion project.

The North Alabama operator priced $190 million of revenue bonds Aug. 29 to support among other things the purchase of an orthopedic physicians' practice.

"As an investor I'm not looking at the activity of the stadium as the security," said an Illinois sports authority bondholder of potential exits by the White Sox and Chicago Bears.

Former Mayor Harry Sidhu pleaded guilty to federal corruption charges this month, as the city continues to recover from the year-plus closure of Disneyland.

Fitch analysts mentioned the tardy ACFR in the ESG section of its most recent rating report on California general obligation bonds.

The affirmation reflects Florida's "sound financial management practices, high gap-closing capacity and reserves, and low long-term liability," Fitch said.

The rating agency's release ESG credit indicators for states and territories last year was blasted by GOP officials for being politicized, vague, and confusing.

Three utility entities associated with the development of nuclear energy in Georgia have received better rating outlooks from S&P Global Ratings.

"Weaker performance is in part driven by higher permanent labor costs," Moody's said. "These elements highlight rising human capital and financial strategy risks under Moody's ESG classification and are key drivers of this rating action."

Fitch joined S&P Global Ratings in assigning a gilt-edged rating to the city, ahead of a planned general obligation deal later this month.

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.