Ratings

The Bay Area Rapid Transit was highlighted in the report on agencies still struggling.

Moody's kept stable rating outlooks on Florida, Maryland and Virginia after moving the United States to negative. D.C.'s outlook was cut.

The rating agency expects that an uptick in revenues will outpace expenses as the not-for-profit hospital industry gets a handle on labor costs.

The upgrade brings Illinois up to the A-minus level across the board. The state had three BBB-minus or equivalent ratings as recently as July 2021.

California received a negative outlook from the rating agency in May amid revenue uncertainty. The Public Works Board lease revenue bonds are rated Aa3.

Analysts discussed proposed changes to its metrics that will be finalized in January. An estimated 35% of ratings could experience upgrades or downgrades.

S&P Global Ratings placed Maryland Heights, Missouri, on credit watch with negative implications because of bonds from a related authority for a hockey rink.

Bonds tied to Destiny USA in Syracuse were cut deeper into junk by Moody's Investors Service on doubts about its ability to extend an outstanding loan.

Fitch Ratings affirmed the city's AA-plus GO rating while bumping the outlook on certificates of participation sold for its city courthouse.

The rating agency removed the negative outlook it had assigned after the community college district's accreditation was threatened.

Moody's also affirmed the A3 rating on the MTA's $20.6 billion of transportation revenue bonds.

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."