Kentucky

The Turnpike Authority of Kentucky expects to sell the bonds on June 6.

The approval clears the way for groundbreaking on a bridge that the two states have been trying to replace for 12 years.

"The upgrade is supported by strengthened debt service coverage ratios due to better than expected recovery from the pandemic," Fitch said.

"The news is sparking an equity market selloff while sending bond yields to the stars as investors dial down their Fed easing expectations again, this time to only two rate cuts this year," said José Torres, senior economist at Interactive Brokers.

"HB 727, if signed into law, should lower borrowing costs for Kentucky school districts and will serve as a critical tool in dealing with cost overruns and other inflationary pressures," said Compass Municipal Advisors.

"In Kentucky, we're working hard to ensure our place as a leader in economic development, and this growth in exports shows our efforts are succeeding," said Gov. Andy Beshear.

The Turnpike Authority of Kentucky approved a resolution authorizing the issuance of up to $250 million of economic development road revenue refunding bonds.

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

The $136.6 billion 2024-2026 biennium budget proposal will be debated by the state General Assembly when it reconvenes on Jan. 2.

Royden Durham and Tony Tanner, portfolio managers at the Aquila group of funds, talk with Chip Barnett about what's special about Kentucky and Arizona -- what's the same and what's different -- within their municipal bond markets. (18 minutes)