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State officials say the long-term infrastructure service contracts Sustainability Partners signs with municipalites should be legally treated as long-term debt.

The top 10 saw some changes, with Gilmore & Bell and Squire Patton Boggs entering the top 10, while Troutman Pepper Locke and Ballard Spahr were bumped.

The muni market is coming out of oversold conditions, said David Litvack, a tax-exempt strategist at BofA.

Dan Aschenbach and Namsoo Lee created Municipal Financial Solutions Associates to help utilities manage the changing economic and regulatory landscape.

The "Golden Age of Public Finance," as it was called by industry pundits, is likely to face significant changes under the Trump administration.

Revisit each class of The Bond Buyer's Rising Stars, from 2016 through 2024, as nominations open for the 2025 honorees.

Compensation played a role in the departures, sources said.

Look back on all three previous classes of our Hall of Fame of municipal finance as we begin accepting nominations for a fourth.

The Bond Buyer will honor a fourth class of inductees into its Hall of Fame of municipal finance, alongside its 10th annual class of Rising Stars, at the close of its Infrastructure event in Boston on Sept. 30.

"FINRA has drifted far from its intended purpose," Rep. Lisa McClain said.