Louisiana

The bonds of 16 affordable housing properties affiliated with Global Ministries Fellowship were downgraded by S&P Global Ratings, sending 14 more of the credits to junk.

Facing a second $300 million deficit this year, Louisiana Gov. John Bel Edwards said lawmakers must meet in a special session and “use a scalpel, not a sledge hammer” to make strategic cuts.

Most of the oil states have gone into recession, S&P Global Ratings said in a new report.

Louisiana now pegs its official mid-year deficit at $304 million, a number that is complicating the state’s ability to issue new debt.

Louisiana’s economists projected Friday the state’s budget shortfall will be as high as $313 million, prompting Gov. John Bel Edwards to say the deficit clearly indicates the need for special legislative session.

An eventful year lies ahead for Louisiana with a special legislative session potentially necessary to address yet another budget shortfall and continued recovery efforts from last year’s disastrous floods.

Full repeal of the Affordable Care Act may cut hospital revenue by close to $400 billion over the next 10 years, putting pressure on healthcare bond ratings and state and local budgets.

Louisiana State Treasurer John Kennedy handily defeated his Democratic opponent with 61% of the vote in Saturday’s runoff election, in his third attempt for a U.S. Senate seat.

Voters in Louisiana go to the polls Saturday to choose the remaining U.S. Senator in this election cycle, with the state’s treasurer, Republican John Kennedy, facing Democrat Foster Campbell.

Energy-producing states affected by two years of deterioration in natural resource prices can expect continued global headwinds to pressure revenues, according to Fitch Ratings.