Ratings

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.

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.