Florida

The one notch upgrade affects $256 million in outstanding bonds and resulted from Fitch's recent criteria change.

The airport reports that both passenger and freight traffic has grown well beyond pre-pandemic levels.

The rating agency's new local government rating criteria led to the higher rating.

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.

The ratings agency cited growing enplanement counts, expectations of resilience during future economic downturns, and strong management for its upgrade to AA from AA-minus.

Falling occupancy figures, staffing shortages, and rising labor costs have elevated the sector's risk, with Greenwich Investment Management's bankruptcy yet another example of how the sector requires thorough credit analysis.

May volume "surprised on the high end and it has been one of the fastest starts to the year historically," said James Pruskowski, chief investment officer at 16Rock Asset Management.

Population growth has spurred economic growth in the South. But the changing climate, and risks climate change poses there, may turn that equation on its head.

Palm Beach County residents are using a Florida law passed last year aimed at ESG investing to challenge its county's investment in Israel bonds.

The steady demand for municipal bonds in high-risk areas underscores the complex relationship between climate change and financial markets.

Even as Florida advances a pair of bills expanding the state's already broad public-private partnership authority, the P3 message from the state's debt office appears less than enthusiastic.

A $327 million competitive bond deal, including $35 million of taxables, will fund renovations to the stadium and a new football operations building.

Assured's controlling vote is "important to investors who were reassured to hear that there would be a large sophisticated party with a significant economic interest in the success of the project," the insurer said.

April's volume stood at $40.456 billion in 653 issues, up 21.2% from $33.377 billion in 666 issues in 2023.

The deal, originally planned at $1.5 billion in three maturities, was downsized and restructured and then restructured again into one 10-year bullet maturity.

As anti-Israel protests grow at universities across the United States amid a rising tide of anti-Semitic incidents, state and local governments are buying Israel bonds in a show of financial and moral support.

Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.

It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.

"The rating action reflects our view of MIA's substantial demand, which surpasses pre-pandemic activity, and its leadership in enplanement growth for large hub airports since the fiscal 2019 peak," said S&P's Nora Wittstruck.

Fitch Ratings said the negative outlook on the BB-plus rating reflects Miami Jewish's thin operating profile.