Ratings

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.

The upgrade lifts $1 billion of the Jacksonville system's water and sewer system senior revenue bonds to AA-plus from AA.

State legislation that increases Milwaukee's revenue prospects falls short of what the city needs to manage rising pension and other costs, Fitch Ratings said.

Kroll Bond Rating Agency upgraded Connecticut's general obligation bonds to AA-plus, citing improved finances and a recent package of fiscal guardrails.

The negative rating outlook comes less than a week after Gov. Gavin Newsom announced a budget shortfall of $31.5 billion.

The system's turnaround efforts include using proceeds of a proposed $710 million deal to sell hospice and home health assets to pay off direct placement debt.

A change by the IRS increases the Permanent School Fund's capacity by nearly 86%, allowing its triple-A school bond guarantee to be widely available again.

Continued commitments to meeting long-term liabilities under Gov. Phil Murphy were cited as key in a slew of recent bond rating upgrades for the Garden State.

Las Vegas sees March visitor totals similar to pre-pandemic March 2019, putting in on solid fiscal footing.

S&P signaled the next lift needed for Detroit to shed junk status is within reach — in the next one to two years — by assigning a positive outlook to the BB-plus rating.

S&P raised Massachusetts' general obligation long-term credit rating to AA-plus from AA.

Illinois' public universities continue to reap ratings and aid benefits from the state's positive rating trajectory and healthy near-term revenue landscape.

Moody's Investors Service ran a series of stress tests on $38 billion in state highway revenue bonds it rates to gauge the risk to fuel-tax backed bonds.