Florida

Moody's kept stable rating outlooks on Florida, Maryland and Virginia after moving the United States to negative. D.C.'s outlook was cut.

The top five bond financings have an average dollar volume of more than $1 billion.

Year-to-date, MIA has seen passengers levels at 113% of pre-COVID 19 levels, boosted by domestic travel, according to a report from BofA Global Research.

Lawmakers are looking for ways to slow the rising cost of property insurance, provide additional relief to victims of Hurricane Idalia, bolster efforts against anti-Semitism and support Israel while targeting Iran.

When set against high-profile public finance projects like American Dream and Legacy Cares, Florida's Brightline marks a rare success for investors.

October's total volume rose 29.3% to $37.156 billion in 661 issues from $28.738 billion in 614 issues a year earlier. New-money grew more than 30% while refundings were up by nearly 75%.

Surpassing $150 million in total investments, New York, Illinois, Pennsylvania, Texas, Ohio, Arizona and Georgia have joined Florida, Miami-Dade and Palm Beach counties and Miami Beach in supporting Israel financially in the wake of the deadly terror attacks by Hamas.

The study confirms the Bay is one of the most valuable in Florida, says Miami-Dade County Mayor Daniella Levine Cava.

Additionally, the Florida Treasury will follow suit and invest $25 million in Israeli bonds, said Jimmy Patronis, the state's chief financial officer.

At stake is nearly $800 million in Federal Transit Administration funds.

"People are just kind of sitting on their hands and being careful because MMD is raising yields every day and people don't know which way this is heading," said John Farawell of Roosevelt & Cross.

The Miami metro area unemployment rate declined to 1.9% from the 2.9% reported in August 2022.

Sunday is the mid-point of the 2023 Atlantic hurricane season. AccuWeather expects at least one or two more tropical storms or hurricanes to hit hit the U.S.

While Idalia caused major damage to some municipalities, it had less of an impact than feared since it hit less densely populated areas than Hurricane Ian did last year.

While muni buyers will see a meager slate of new issues this week, Jacksonville, Florida, heads to market with a sale of over $290 million of revenue and refunding bonds.

The region's issuers sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did during the same period last year

The upgrade to "reflects the durability of margins and liquidity, which will be supported by higher property tax receipts under the authorized levy and NBHD's efforts to grow and diversify revenue," Moody's said.

Nashville Senior Care, LLC's Chapter 11 filing impacts bonds sold through conduit issuers in Florida, Ohio and Tennessee.

Florida led the nation in payroll growth in July, Wells Fargo said in a Friday report, which noted most of the upturn was in the healthcare and professional and the scientific and technical services sectors while leisure and hospitality shed jobs.

The affirmation reflects Florida's "sound financial management practices, high gap-closing capacity and reserves, and low long-term liability," Fitch said.