Alabama

Only Georgia has a higher state-level infrastructure grade from the ASCE than the the C the U.S. received this week. More in the Southeast are C-minus or lower.

The bonds, which are expected to sell soon, are rated A1 by Moody's Ratings.

The series 2025B Black Belt Energy Gas District bonds are rated Baa1 by Moody's Ratings based on Deutsche Bank's key role in the transaction.

Volume in the Southeast was up 46% in 2024, led by Florida, where municipal bond sales more than doubled to $27.49 billion.

Senior Vice President Tamika Reed will staff a new Montgomery, Alabama, office, and Vice President Narineh Panosian joins the firm in Los Angeles.

A federal court has given an outside debtor-in-possession loan "superpriority" over the bondholders' lien.

The bonds — $824.8 million tax-exempt and $400 million taxable — follow Orlando Health's major acquisitions of hospitals in Alabama and Florida.

Enviva's bankruptcy is the latest Chapter 11 bankruptcy where green private activity bonds are restructured to near zero.

The muni market saw $507.585 billion of debt issued in 2024, up 31.8% from $385.061 in 2023. This surpasses the previous record of $484.601 billion in 2020 by more than $20 billion, per LSEG data.

Bondholders are prepared to loan up to $22 million to the hospital.

The county achieved its many goals through long-running discipline, planning, and intelligent risk taking.

Eisner Advisory Group Partner Allen Wilen is the chief restructuring officer for Jackson Hospital & Clinic.

The region's municipal bond volume grew by 42.4%, outpacing the nationwide 32% increase in a first-half marked by gas prepay deals and Brightline's big sale.

In the first half of 2024, winding-down federal aid, a resurgence of Build America Bond refundings and election uncertainty have contributed to the surge in issuance, said James Welch, a portfolio manager at Principal Asset Management.

Enviva's $353 million in tax-exempt bonds currently are among the liabilities at stake in the company's Chapter 11 bankruptcy.

"Each party in this deal benefits in some way," said Seema Mohanty, founder of Mohanty Gargiulo.

The pace of the issuance and the increase of refundings, surging 59.6% in the first quarter of 2024, have also led some firms to up their overall 2024 issuance projections.

High rates and high inflation, coupled with rich reserves, pushed off or delayed issuers coming to market in 2023, noted James Pruskowski, chief investment officer at 16Rock Asset Management.

"This bill is aimed at providing more economic opportunity for our cash-strapped airports," said bill sponsor Rep. Chip Brown before the House passed it 98-2.

Natural gas prepayment deals helped drive the utilities sector to top the Southeast in an overall down year for municipal bond sales across the region.