Hawaii

The authority is one of the few investment-grade U.S. issuers actively selling triple-tax-exempt paper.

"I think we are starting toward higher volume," said Raul Amezcua, senior director at Samuel A. Ramirez & Co.

States are considering tolls, public-private partnerships, per-mile usage fees and even retail delivery fees to shore up transportation funding among a declining motor fuel tax.

The ratings agency cited federal support and military spending on the island as keys to its decision.

Infrastructure, housing and recovery efforts from the deadly Maui wildfires in August were a focal point of Hawaii Gov. Josh Green's State of the State speech.

The top five bond financings have an average dollar volume of more than $917 million.

Some general fund spending will be shifted to bonds to help the state meet priorities like housing and healthcare, Hawaii Gov. Josh Green announced.

The governor said the budget would needlessly wipe out a rainy-day fund.

Hawaii Gov. Josh Green gave an update Friday on how the state and Maui are faring a month after fires decimated West Maui and razed the town of Lahaina.

Moody's credited generally sound fiscal practices, good governance and federal aid with the likelihood that Maui County and the state would retain their current credit ratings.