ESG News from Bond Buyer

Fitch, Moody's, and S&P were sent a letter from 23 GOP state attorneys general over the use of ESG factors related to fossil fuel in negative rating actions.

The Texas city's latest projection for the onset of a Level 1 emergency comes as water woes spurred rating downgrades and negative outlooks since last fall.

The rating agency's previous review of the Texas city resulted in downgrades in December over increased credit risk due to water supply woes.

The Texas city is facing a potential level 1 emergency, indicating the water system is 180 days from supply not meeting demand.

The state Supreme Court's decision did not address the 2022 law's governmental contract ban for businesses deemed to be "boycotting" the fossil fuel industry.

The drought-stricken Texas city could face a water emergency as soon as May or October under scenarios presented to the city council.

A lawsuit claims Texas Acting Comptroller Kelly Hancock illegally removed minority- and women-owned firms from a program created by the state legislature.

The drought-stricken Texas city welcomed the president's support for "a serious money ask" as it revisits a costly seawater desalination project.

The Texas city is reviving a seawater desalination project as it faces a water supply crisis that has impacted its bond ratings.

The Texas city, which has been hit with negative rating actions over its water woes, signaled it will issue revenue bonds in its hunt for new supplies.

The precedent and, if there were to be an appeals court affirmation, would have a greater impact on Louisiana than Florida, the attorneys said.

A federal court decision enjoins the state from enforcing a 2021 law that penalizes investment banks and others for "boycotting" the fossil fuel industry.

The Texas city, which is a regional water supplier, is turning to several sources to boost dwindling water supplies amid an ongoing drought.

A review Moody's launched in September ended with rating downgrades and negative outlooks for the city's outstanding general obligation and revenue bonds.

After terminating the project in September, the council approved an initial deal with a new contractor team to develop design and construction options.

The Texas city could revisit plans for a desalination project to boost its dwindling water supply with the city council scheduled to consider it next week.

Concerns over the Texas city's future water supply after a desalination project was terminated, led to negative rating outlooks from Fitch and S&P.

The rating agency's review was triggered by the city's move to effectively end plans for a seawater desalination project that has $235 million of bonds outstanding.

This year's portfolio growth will save the city $2.18 billion over the next five years, Comptroller Brad Lander said.

Moody's cited continued liquidity improvements in the ratings lift for the northern California clean energy aggregator.