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The Uinta Basin Railway, which aims to transport crude oil, is eying up to $2 billion in private-activity bond authorization.

Municipal bond issuance in the Far West was down 2.3% in a first half that saw volume drop 17.1% nationally.

"The improved rating outlooks are critical for the Power Authority to ensure that we can continue leveraging the capital markets," said NYPA President and CEO Justin E. Driscoll.

Supply scarcity is helping the market through the Treasury volatility. Bond Buyer 30-day visible supply currently sits at $4.72 billion.

The region's issuers sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did during the same period last year

The $1.4 billion span would mark the second major bridge that the two states have built together following the $2.6 billion Ohio River Bridges project that opened in 2016.

The rating agency cited the Illinois county's accumulated reserves, as well as required pension contributions for the move.

The Tax Cuts and Job Act will be up for renewal by the winners of the next election cycle

The upgrade to "reflects the durability of margins and liquidity, which will be supported by higher property tax receipts under the authorized levy and NBHD's efforts to grow and diversify revenue," Moody's said.

Tuesday's competitive new money sale is to be followed with a negotiated refunding deal later this week.