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.

Moody’s said MEAG's upgrade reflects the upgrade of Florida’s JEA Electric Enterprise ratings on Monday. JEA is to be a major customer of MEAG's nuclear units.

Moody's said its rating upgrades reflect the Jacksonville, Florida, utility's sound financial performance and governance changes.

As hospital margins recover from the latest surge, Moody's warns of challenges from the pandemic-driven acceleration of the trend away from in-hospital care.

S&P's upgrade moved Detroit's unenhanced GO rating higher in the speculative grades but also lifted a portion of its priority lien debt to investment grade.

Moody's raised the Chicago Board of Education's rating by one notch to Ba2.

Moody's said the upgrade reflects continuing strong revenue and liquidity trends, completion of a debt-reduction program and increased pension contributions.

Soaring inflation could pressure the ratings of utilities if they bring rate hikes that spark customer and political opposition, S&P Global Ratings said.

Moody's Investors Service said the upgrade reflected the university's robust, sustainable operating margins supported by consistent growth in tuition revenue.

Credit strengths include strong market position and service area economic fundamentals and an expected continued strong finance performance.

Fitch's commentary suggests a rating upgrade from BBB-minus is in the offing if the governor's proposed budget passes.