Ratings

Illinois expects to sell about $1 billion of new-money general obligation debt but the deal could grow if market conditions permit savings on a refunding piece.

This is the second time S&P Global Ratings placed New Orleans on negative CreditWatch due to long delays in publishing audited financial statements.

The city's share of American Relief Plan Act funds eased fiscal pressures and provides runway for the city to work on a pension funding fix.

Fitch affirmed the Los Angeles-area airport's A rating and raised its outlook to stable though a $1 billion terminal project stalled during the pandemic.

Fitch and S&P have now joined Moody’s in downgrading the Renton, Washington-based healthcare system’s $6 billion of bonds.

Moody's lifted Illinois one notch to Baa1, marking the state's third rating upgrade over the last year and first since lawmakers passed a state budget.

Fitch Ratings revised its outlook to stable from negative on the state's A-plus rating, two weeks after the state received a positive outlook from S&P.

The state’s personal income tax revenue and sales tax revenue bonds were also lifted from Aa2. Related credits were also upgraded. The rating outlook is stable.

High gas prices usually have the biggest effect on leisure travel because drivers take fewer or shorter trips, Fitch Ratings says.

The Fitch Ratings upgrade to A-plus applies to $80 million in debt issued for the University of Portland in Oregon.