Louisiana

Endorsed by Donald Trump, Landry has fought against ESG precepts and has had several run-ins with the state Bond Commission over firearms and abortion issues.

The region's issuers sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did during the same period last year

The Louisiana Stadium and Exposition District is selling bonds to continue renovations on the Caesars Superdome, which will host the 2025 Super Bowl.

Bolstered by key political support, states across the southeast are building toll roads through public-private partnerships to manage congestion.

"What are our options? You either pick these banks or you don't. If you don't, business shuts down. We stop building infrastructure," said state Treasurer John Schroder, the bond commission chair.

The rating agency affirmed Louisiana at AA-minus. The state also received its first-ever rating from Kroll Bond Rating Agency: a AA rating and stable outlook.

Facing calls to disqualify six more underwriters from negotiated bond sales, the state Bond Commission opted to sell GOs competitively.

Spending on climate proofing infrastructure and other green capital developments increased 68% while overall volume tumbled 13% in the region.

The 150-acre facility is expected to create about 200 local full-time positions and between 500 and 1,000 indirect local jobs.

Arkansas, Louisiana, and Oklahoma will submit an application to the U.S. Department of Energy for their HALO Hub, which involves public-private partnerships.

The increasing number and frequency of cyber attacks against municipalities is a cause for credit concern, S&P Global Ratings says.

After four hurricanes and 11 insurer insolvencies, a $458 million deal for the Louisiana Insurance Guaranty Association supplies capital to pay claims.

The allocation for Strategic Biofuels LLC received final approval from the Louisiana Community Development Authority, conduit issuer for the tax-exempt bonds.

"It was a misguided effort from the beginning to ever use the Bond Commission and any of the work that it does to send a political message to anyone for any reason," said Gov. John Bel Edwards.

Municipal bond issuers in the Southeast sold $40.7 billion of bonds in the first half of this year, a 6.3% year-over-year increase.

The Louisiana Bond Commission approved $600 million of notes to help pay Hurricane Ida damage claims after several insurers went bankrupt and up to $1.1 billion to build a biorefinery.

Most top 10 issuers for 1H are from New York and California, with four from New York and two from California.

NOAA predicts six to 10 hurricanes and expects that between three and six of those will be classified as major storms in categories three to five.

As summer beckons, it's time for a reporters' roundtable with some of the Bond Buyer's senior staff. Yvette Shields, Karen Pierog, Keeley Webster and Thomas Nocera talk with Chip Barnett about what's hot in their regions and what municipal bond market participants should expect to see in the months ahead. (25 minutes)

The rating agency said the action reflects significant progress the state has made restoring its financial reserves and liquidity in recent years.