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The outlook revision from negative comes as the school system prepares to tap more of its record $2.44 billion of voter-approved bond authorization next year.

High interest rates are exposing both challenges and opportunities.

The city may also issue an RFP for underwriters, though the timing is not set, said CFO Jill Jaworski.

Delayed over the summer amid rising interest rates, Miami-Dade County is now set to come to market with its taxable revenue bond sale for PortMiami.

A new law creates a commission to recommend changes to address rising property tax bills and ensure the system is sustainable for local governments and school districts.

Illinois spreads tightened considerably after ratings upgrades earlier this year. The state saw up to 10 bidders on $875 million of taxable and tax-exempt GOs.

West Virginia reduced its pension debt burden by 90% from 2000 to 2021, according to a recent report from the Pew Charitable Trust.

While the muni market faces some headwinds, such as rich relative yields, near-term returns "are likely to be favorable for munis," said Cooper Howard, a fixed-income strategist at Charles Schwab.

Pierluisi says there's more to the island's growth than federal funds. Bondholders said that means the Puerto Rico Electric Power Authority can afford to pay them more.

The project was to have been the first small modular reactor technology in the U.S.