Florida

S&P said its earlier rating had its origin in an incorrect methodology.

Florida counties are facing off against a PACE bond-issuing agency over whether they must collect taxes that would back up to $5 billion in approved bonds.

The default comes as charter school bonds have been the municipal sector with the most defaults this year.

Charter school bonds are defaulting or becoming impaired at a higher rate than any other sector, data show.

The budget includes plans for transportation bonds to be sold over the next few years.

Gov. Ron DeSantis signed a measure into law that restrict local governments increases in property tax yields.

Local governments will face "greater credit pressure" if voters largely eliminate property taxes on more than half of homes in the state, S&P analysts said.

A county tax collector said the ballot measure, if passed, would endanger outstanding local bonds throughout the state.

With nearly $4.5 billion of tax-exempt bonds, a restructuring or bankruptcy would be among the muni market's largest to date.

The counties with the greatest exposure lie along the coasts of Florida, Louisiana, South Carolina and Texas.

Huntington Securities has hired Shai Markowicz, a veteran of Citi and Morgan Stanley, as managing director and head of project finance.

The rating agency cited solid financial performance and a stabilizing leverage profile.

The city commission puts off move to bring the bond referendum to voters.

PFM sees the expansion as a way to strengthen its position.

The bonds are rated A1 by Moody's Ratings, A-plus by S&P Global Ratings and AA by KBRA.

Observers say there is a real chance that Democrats may win the governorships of Florida and Georgia, affecting the states' fiscal policies.

The state supreme court is hearing the case that affects $5 billion in authorized bonds, $150 million that have been issued.

The risk of contagion to the rest of the high-yield market is limited, investors said.

Florida PACE Funding Agency says it will have to default on its bonds unless the Florida Supreme Court takes quick action.

Space Florida would own the assets and lease them to Project Jaguar, Space Florida's Ron Lau said.