Pennsylvania

The muni market saw $507.585 billion of debt issued in 2024, up 31.8% from $385.061 in 2023. This surpasses the previous record of $484.601 billion in 2020 by more than $20 billion, per LSEG data.

Robert McDermott has joined the firm as a director.

Governments once stayed for decades in the state program for distressed municipalites; one official called it a "roach motel." Today, only three towns remain.

A bankrupt city's only asset is mired in its history of corruption and a statewide fight over utilities privatization.

The Philadelphia-based university straddles the higher education and healthcare sectors, but market demand suggests it's greater than the sum of its parts.

Legal arguments in progress as the troubled city southwest of Philadelphia nears year three of bankruptcy could have wide-ranging precedents.

The muni market enters the last quarter of 2024 in "excellent shape," said GW&K Investment Management partners John Fox, Brian Moreland, Kara South and Martin Tourigny.

The rating is a new milestone in the state's long road out of legislative dysfunction.

The University of the Arts, a private college in Philadelphia that abruptly closed its doors in June, filed for Chapter 7 bankruptcy.

Philadelphia, New Jersey and the 76ers could all spend billions of dollars. Opponents argue no one will be getting a good deal.