Hawaii

Other post-employment liabilities are more material problems for one in ten state and local governments, according to Moody's Investors Service.

Honolulu plans to price $725.4 million of double-A-plus GOs next week; a significant chunk of the deal will support Oahu's troubled rail transit project.

Hawaii lawmakers made changes to the budget this week in response to a flurry of vetoes from Gov. David Ige.

Hawaii lawmakers approved the budget before Treasury guidance banned the use of federal funds for debt payments or reserves.

Under Hawaii's system, the governor, David Ige, signals his intent to veto and then negotiates with lawmakers before making them formal.

A reported preliminary 25.8% drop in May issuance shows how strong fund inflows, improving credit and the reopening of governments are keeping the muni market issuer friendly.

Strong technicals have been the theme, and with federal aid and better-than-expected tax receipts coming in, issuers are not tapping the market as much as investors would hope.

States are well-positioned to emerge from COVID-19, the investment firm said in its annual grading.

Tax-exempt bonds issued for a private hospital system in Honolulu fell further into junk territory with S&P Global Ratings downgrading the bonds to CCC from B-minus.

Far West municipal issuers sold $99.1 billion of debt last year, a 16% increase from 2019.

Hawaii's governor announced that state employees would be furloughed two days a month; the state sold $750 million of GO bonds in October to fund operations.

Oahu's 20-mile rail project could lose $250 million in federal funding if the Federal Transit Administration doesn't grant an extension.

The state is easing a strict quarantine requirement that has left its all-important tourism industry with very few tourists.

Municipal issuers in the Far West sold $38.7 billion in bonds during the first six months of 2020, 8.8% more than they did the year before.

Total municipal CUSIP requests fell in July after three months of increases, according to CUSIP Global Services.

The drop in tourism amid the coronavirus pandemic has resulted in a downgrade of Hawaii's ratings by Moody’s Investors Service affecting $9 billion in outstanding debt ahead of the state’s plans to price $900 million of taxable bonds Wednesday.

Municipal bonds were little changed on Monday ahead of this week's new-issue calendar.

Municipal bonds finished out the month on a strong note, with yields dropping by as much as two basis points on Friday.

Hawaii struggles to close shortfall while crafting reopening plan.

Fitch Ratings lowered its outlook on Hawaii's AA-plus rating to negative from stable, following a similar action by Moody's earlier this month.