New York

Legal challenges to congestion pricing tolls may delay much-needed repairs to the city's transit system, the Metropolitan Transportation Authority said. 

Public finance lawyers Alison Radecki and Helen Pennock, who come to the firm from Orrick, Herrington & Sutcliffe, will work of of the New York City office.

Based in New York City, Ted Hynes has almost 40 years of experience in the fixed-income markets, the last 15 at Raymond James.

The bonds are rated Aa2 by Moody's Investors Service, AA by S&P Global Ratings and Fitch Ratings and AA-plus by Kroll Bond Rating Agency. All four rating agencies have a stable outlook on the credit.

An off year from municipal bond issuers in the Northeast in 2023 pulled the national volume numbers into negative territory.

Robert Poole, a leading expert in the U.S. public-private partnership transportation sector, joins infrastructure reporter Caitlin Devitt to talk about upcoming deals including toll lanes and bridges in the Southeast and high speed rail in the West as well as states that are advancing P3s and action on the federal front. (37 minutes)

Meanwhile in New York, the state doubles down on climate investments and restricts investments in some big oil and gas companies as the city blasts several big banks as they pull out from the Climate Action 100+ initiative.

The value of the fund rose from the $246.3 billion reported in the second quarter while returns improved to 6.18% in the third quarter from negative 1.59% in the prior period.

Jackie Wells, a former FINRA enforcement director, is the second leader from the industry's self-regulating body to join the firm in recent months.

Thomas DiNapoli criticised the agency for failing to include projected costs associated with needed system repairs in its 2023 20-Year Needs Assessment.

The primary saw strong demand with the Triborough Bridge and Tunnel Authority doubling the size of its deal to $1.6 billion.

"The market seems to be coalescing around the view that these historically rich ratios can be sustained through February, but that the market technical becomes far less favorable in March and April," said Birch Creek Capital strategists in a report.

The deal comes following several toll increases — which have bolstered the authority's credit — that have also compelled a state senator to introduce a bill that would dissolve the authority.

Katz is well known for guiding operational improvement and expense control in the financial services sector, his new employer said.

Hochul's budget proposal for fiscal 2025 would preserve New York State's reserves at $19 billion.

Mr. Laverty spent most of his life living and working in New York City as a municipal bond underwriter for several Wall Street firms.

"Hiring Giles along with other senior and experienced hires over the last year demonstrates our deep commitment to public finance at a time when our competitors are laying off in droves or retrenching from the sector entirely," said Suzanne Shank, president and CEO of Siebert Williams Shank.

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

"Some have called on us to use our rainy-day fund to cover asylum seeker needs. We do not agree and neither do our city and state comptrollers as well as the bond rating agencies and fiscal experts," said NYC Mayor Eric Adams.

Bonds issued through the Westchester County Local Development Corp. will create a centralized base for the nonprofit's blood distribution and lab operations.