Kentucky

"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)

Sports wagering is forecast to increase the state's revenue by about $23 million a year when it's fully implemented. Retail locations open this week and mobile applications go online at the end of the month.

The $1.4 billion span would mark the second major bridge that the two states have built together following the $2.6 billion Ohio River Bridges project that opened in 2016.

Almost all of the $1.55 billion surplus will go into the state's rainy-day fund, raising its balance to a record $3.7 billion, a 2,700% jump since 2019.

S&P analyst Anne Cosgrove cited "Kentucky's commitment and execution to strengthen its budgetary flexibility and long-term financial stability."

Fitch said its upgrade of Kentucky's IDR "reflects material improvements to Kentucky's fiscal reserves since 2020 as a result of improved budgetary discipline.

The administration gave priority to large bridge projects that are ready to proceed with construction.

Because I-75 is a key freight corridor from Florida to Canada, impacts from traffic congestion affect commercial and commuter traffic up and down the East Coast.

Following a procession of anti-ESG policy decisions in Kentucky, state lawmakers met last week to discuss additional requirements for companies that have cut ties with the fossil fuel industry.

The funds will be used to restore running water in counties still grappling with infrastructure damage wrought by July's flash floods, Gov. Andy Beshear said.

An increase in the volume of tax-exempt bond deals for long-term, fixed-priced natural gas contracts may signal a turnaround in the prepaid energy market.

The upgrades follow Fitch's upgrade of Morgan Stanley, the guarantor to the gas supplier in all of the transactions.

The $74 million of federal funds will support the efforts of a state agency that has long grappled with the decaying infrastructure of the coal business.