Finance

Some of the issuance stems from project finance largely "drying up" because of where rates are, said Jennifer Johnston, senior vice president and director of research, municipal bonds, for Franklin Templeton Fixed Income. 

S&P noted volume growth and solid operating margins at the large Florida-based healthcare system.

The market has seen seven consecutive weeks of outflows. "This is not surprising given that retail investors tend to follow performance," said Daryl Clements of AllianceBernstein.

New Britain is reaping a rating reward from higher revenues and stronger budgetary practices, including full actuarial funding of its pensions.

S&P Global Ratings dropped Los Angeles' ratings and assigned a negative outlook, citing a "weakening financial position and an emerging structural imbalance."

Baker Tilly is preparing a $7 billion merger with Moss Adams, another advisory firm. The deal will close in early June.

"Easing tariffs, a slowing economy and an improved supply/demand outlook for munis in May and onward should drive muni market pricing going forward," BofA strategists said.

The state plans to price $626 million in GOs, in part, to fund the I-5 bridge replacement

The city of Los Angeles and its Department of Water and Power face Palisades Fire-driven lawsuits from some 776 plaintiffs, according to the offering document.

Investors pulled $397.4 million from municipal bond mutual funds in the week ended Wednesday, following $1.258 billion of outflows the prior week.