New York

The New Terminal One project was able to flex its construction progress, which the P3 backers say may have encouraged investors in a deal upsized by $1 billion.

The City Council-approved deal spends big on education and housing and reverses earlier cuts, but analysts are wary of the city's budget practices.

Gov. Kathy Hochul's "pause" on congestion pricing puts a $16.5 billion hole in the Metropolitan Transportation Authority's capital plan.

In the first half of 2024, winding-down federal aid, a resurgence of Build America Bond refundings and election uncertainty have contributed to the surge in issuance, said James Welch, a portfolio manager at Principal Asset Management.

The Westchester Joint Water Works agreed to build a $138 million filtration plant by July 2029 under a consent decree with the U.S. EPA and federal prosecutors.

The low-investment-grade offering for a high-profile public private partnership stood out in a crowded airport sector.

S&P Global Ratings dropped Houghton University to BB-plus from BBB-minus, citing a track record of deficits plus a large operating shortfall.

Even after paring down the capital plan, the MTA will need to issue debt, and sooner than planned. It will be issued under the MTA's transportation revenue credit rather than its congestion pricing credit, so near-term debt service costs will be higher, CEO Janno Lieber said.

Her abrupt suspension of the tolling plan for Lower Manhattan leaves a $15 billion hole in the Metropolitan Transportation Authority's capital budget.

It is not clear how the Metropolitan Transportation Authority would fund its capital plan if the governor puts the brakes on the toll plan for lower Manhattan.