The Latest

Moody's upgraded five Illinois public universities after lifting the state government's rating, lifting one to investment grade and putting three others closer.

Holders of $4.3 billion of HTA bonds will receive $1.2 billion of new bonds with 5% coupons and $389 million of cash.

Michael Rinaldi, head of local government ratings at Fitch, talks with Chip Barnett about the murky financial picture after the move by Gov. Ron DeSantis to dissolve the Reedy Creek Improvement District after Disney Co. said it plans to fight to repeal the new “Don’t Say Gay” law. (12 minutes)

As asset managers track winners and losers and the potential for the corporate bond default rate to spike, they consider differing factors.

Municipal returns in April were deeply negative, bringing the year-to-date figure to near 9% losses, the largest posted on the Bloomberg Muni Index since its inception in the 1980s.

Texas ballots are bursting with $18.5 billion of bonds Saturday as cities and school districts ask voters to approve 207 bond measures.

The legislative clock is ticking as midterm campaigning ramps up, but the lame duck session offers a fresh opportunity.

With the ink still drying on the central government restructuring, analysts give takeaways from Puerto Rico's bankruptcy. Some point to credit fundamentals, others to lack of willingness to pay, as key drivers of the bankruptcies.

Illinois expects to sell about $1 billion of new-money general obligation debt but the deal could grow if market conditions permit savings on a refunding piece.

Investors will be greeted Monday with a steep drop in volume, with the new-issue calendar estimated at $4.583 billion — less than half of this week's supply.