Community Standouts
New Issuance
Corpus Christi, Texas, shoreline

The rating agency confirmed the Texas city's A1 bond ratings, ending a review for potential downgrade spurred by an impending water supply crisis.

Corpus Christi, Texas, shoreline

The rating agency confirmed the Texas city's A1 bond ratings, ending a review for potential downgrade spurred by an impending water supply crisis.

Anatomy of a Deal
frederico-dominic-assured-2015.jpg
MuniThink

The latest reversal of Puerto Rico's Title III bankruptcy court again draws attention to PROMESA's failure to meet its goals of restoring fiscal responsibility and capital market access for Puerto Rico.

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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