Georgia

Airports are returning to the municipal bond market to build and renovate runways, concourses and terminals as passenger traffic rebounds.

Investor-owned Georgia Power will recover from ratepayers capital costs for the over-budget construction of two new nuclear reactors, if a state board approves.

The firm Kestrel verified the green bond component of the deal, which priced Aug. 16.

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

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

The decision signals the end of a legal saga that began last year when local residents opposed validation of $15 billion of municipal bonds.

The $6.9 billion new-issue calendar features high-grade deals from Georgia, Washington and Massachusetts, among other frequently traded credits, which should provide direction for scales.

"The state has not issued general obligation debt since July 2022 and will be able to take advantage of strong summer redemption money," said Mary Garver, director of bond financing at the Georgia State Financing and Investment Commission.

City officials believe the structure of the $100 million issuance will help assuage investors concerned with inflation, high interest rates, and the specter of recession.

Gov. Brian Kemp announced projects that will receive $225 million in funds from a program created under the American Rescue Plan Act.

Bolstered by key political support, states across the southeast are building toll roads through public-private partnerships to manage congestion.

The electric automaker was promised $15 billion of bond proceeds and other incentives to set up shop in Jasper County, Georgia. It can walk away from the state-backed deal up until Monday.

Lawmakers must consider the proposal before the end of the legislative session this month after a gut-and-amend maneuver.

Southeast states are generous with incentives for electric vehicle factories; less so for people and businesses who operate EVs.

The agreement with the Army Corp of Engineers to dredge and widen the Port of Brunswick signed Monday is part of a wider development effort of Georgia's ports.

States in the region have seen billions in investments from EV producers after offering them billions in economic development packages.

The permit clears land in rural Georgia for redevelopment by the electric vehicle maker, which is separately trying to validate up to $15 billion of bonds.

Georgia authorities and local residents opposed to construction of the new EV production facility are now arguing their case in Georgia's Court of Appeals.

Atlanta will continue to pursue deals like November's $410 million of social bonds, the city treasurer said, despite Republican efforts to defund ESG investing.

Atlanta's first foray into ESG bonds was a resounding success, according to local officials who said investors welcomed the city's inaugural social bonds.