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A separate report showed the state's workforce declined by 1% between 2011 and 2021 while the workforce increased 5.1% nationally during that time frame.

Lower supply in 2022 has somewhat helped the market avoid larger losses, many participants have said.

PREPA bondholders' filing cites the Bankruoptcy Code, the PREPA Trust Agreement and other documents.

Airports, schools and affordable housing received an infusion of cash from lawmakers

With more federal money flowing to airport terminal projects under the infrastructure law over the next five years, Transportation Secretary Pete Buttigieg said he "wouldn't be surprised to see strong applications" from O'Hare.

"S&P recognizes the progress that has been made and that Connecticut is getting its mojo back," said Gov. Ned Lamont.

KBRA said the upgrade reflected the airport's large and growing service area, anchored by Miami, which is a vibrant center for tourism and trade.

Ruben James Rojas agreed to admit wrongdoing and pay a $50,000 fine after the Securities and Exchange Commission found that he misled bond investors in connection with a $100 million offering.

The Legislative Analyst's Office forecasts the state could face a $25 billion deficit in fiscal 2023-24.

The Bond Buyer's senior regional reporters hold a roundtable discussion on the midterm elections. Caitlin Devitt, Yvette Shields, Karen Pierog, Keeley Webster and Thomas Nocera talk about implications for the municipal bond market. Chip Barnett moderates. (30 minutes)