Florida

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.

The rating agency's release ESG credit indicators for states and territories last year was blasted by GOP officials for being politicized, vague, and confusing.

"The main climate factors expected to influence the 2023 Atlantic hurricane activity are the ongoing El Nino and the warm phase of the Atlantic Multi-Decadal Oscillation, including record-warm Atlantic sea surface temperatures," said NOAA's Matthew Rosencrans.

Three utility entities associated with the development of nuclear energy in Georgia have received better rating outlooks from S&P Global Ratings.

The firm named Matt O'Connor to be head of its soon-to-be-opened Miami office and picked Annabella Espina to be its chief operating officer.

The school is Fortec's latest education project, a result of the demand for more schools due to the influx of residents into the South Florida area.

Proceeds, along with additional monies, will be used to fund the cost of the Royal Caribbean Cruises Ltd. (RCG) campus project as well as a debt service reserve fund.

Bond for the private Florida passenger railroad have outpaced their high-yield muni peers as trading volume increased.

July's total volume was $25.939 billion in 542 issues, down from $28.258 billion in 619 issues a year earlier, the smallest percentage drop in monthly issuance year-over-year in 2023, according to Refinitiv data.

Florida's Division of Bond Finance clarifies the new statewide ban on ESG bonds.

Proceeds of the $178 million Series 2023 capital asset acquisition obligation bonds will finance programs for the county's general government and departments.

The bond division undertook two transactions last week to retire outstanding taxable public education capital outlay and state revolving fund bonds. The transactions used $200 million in program funds, along with additional money, to pay down $400 million in state debt.

"With this year's budget, we're creating a more future-ready Miami-Dade, building for today and investing in tomorrow," Mayor Daniella Levine Cava said.