Legal
Market Intelligence

Market Intelligence analyst Jeff Lipton finds that low debt burdens, stronger rainy-day funds, improved pension metrics and robust legal safeguards help states remain a core source of stability and diversification for muni portfolios despite slowing growth and fiscal headwinds.

Community Standouts
New Issuance
Anatomy of a Deal
Emanuel "Manny" Grillo, Orrick restructuring partner
MuniThink

With declining enrollments and mounting closures, attorneys advising colleges, creditors, and municipal stakeholders must navigate restrictive federal rules that limit restructuring paths and complicate debt workouts.

Andrew Kalotay says taxpayers would have come out half a billion ahead had the issuer waited out the call date instead of refunding their exempt bonds with taxable paper for 14 transactions between 2018 and 2020.
MuniThink

Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.

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