Ratings

Moody's Investors Service revised its outlook to positive from stable and affirmed its Aa1 issuer and general obligation unlimited tax bond ratings on the city.

Moody's, which last rated the state triple-A in 1979, pointed to an economy that's "poised for diversification and growth."

The outlook revision from negative comes as the school system prepares to tap more of its record $2.44 billion of voter-approved bond authorization next year.

The city has made some important progress on the expenditure side, but the new mayor's first budget didn't make similar strides on revenues, according to Fitch.

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.