Ratings

KBRA said the negative outlook reflects declining coverage of maximum annual debt service coverage from both a lower tax rate and declining rum sales.

KBRA revised the outlook to negative on the Chicago Transit Authority's AA-minus rated TIFIA bonds, backed with farebox and operations revenue.

A new S&P upgrade and one last year from Moody's burnish the Colorado Statewide Bridge and Tunnel Enterprise ahead of a $212 million revenue bond deal.

The S&P issuer rating upgrade marks the second for Oklahoma since September when Moody's raised its rating a notch to Aa1.

Colleges and universities have already begun hiring freezes and spending cuts, dialing back research and rescinding offers to Ph.D. candidates, the rating agency said.

The rating agency cited a tax cut package enacted by the state last year and uncertainty over federal policies for the outlook revision to stable from positive.

S&P Global Ratings analysts said they reviewed their entire rated California public utility portfolio before giving seven negative outlooks.

The rating agency cited the state's ample reserves, robust natural resource base and critical role in U.S. strategic interests.

Analysts Chris Collins and Melissa Nicandri were among the 64 passengers and crew aboard American Airlines flight 5342.

Two public electric utilities in Los Angeles County received negative outlooks from S&P citing costs, liabilities, and litigation stemming from wildfires.

Kroll Bond Rating Agency downgraded Chicago's general obligation bonds to A-minus from A, citing high fixed costs and one-time fixes. The outlook is negative.

The Los Angeles-area wildfires have sparked a negative rating watch for several credits from Fitch Ratings.

With losses expected to be measured in the tens or hundreds of billions, the municipal finance industry begins to take stock of the Los Angeles-area wildfires.

The bonds — $824.8 million tax-exempt and $400 million taxable — follow Orlando Health's major acquisitions of hospitals in Alabama and Florida.

S&P Global Ratings downgraded Chicago's general obligation debt to BBB from BBB-plus, saying the 2025 budget fails to address a structural imbalance.

Trading in Los Angeles credits has become more volatile. An L.A. Department of Water and Power deal slated for Wednesday went day-to-day.

The rating agency said the district's strong management helped boost its ratings ahead of an $806 million bond issuance slated for Jan. 22.

Analysts cited growth in the county's reserves, conservative budgeting and strong sales tax revenue as the county prepares to sell GO bonds.

Westchester County, New York, plans to issue roughly $189 million in general obligation bonds, with Fitch Ratings giving the debt its top rating of AAA.

San Francisco's "tepid" recovery from the pandemic was cited by Fitch.