Community Standouts
New Issuance
Detroit skyline as seen from Windsor, Ontario

Moody's Ratings upgraded Detroit's issuer and general obligation unlimited tax bond ratings to A3 after S&P bumped Detroit to BBB-plus from BBB.

Detroit skyline as seen from Windsor, Ontario

Moody's Ratings upgraded Detroit's issuer and general obligation unlimited tax bond ratings to A3 after S&P bumped Detroit to BBB-plus from BBB.

Anatomy of a Deal
MuniThink

Banks, asset managers, and other financial institutions need liquidity. This has created an unprecedented buying opportunity, with yields not seen since the financial crisis and then only seen for a short period of time.

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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