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.

The purpose of restructuring is to help the Pennsylvania hospital operator "avoid a bankruptcy scenario," said Dora Lee of Belle Haven Investments.

One-time spending, rainy-day funds and fare hikes are forming a rickety bridge for crossing the transit funding ravine.

The legislature dodged broad changes to education or transit, but bet big on business-friendly initiatives.

The county hopes one-time revenues will help it "live to fight another day" as it awaits a state-assisted financial plan.

The system, trustee and bondholders of about $992 million in debt are supporting an exchange of "substantially all" existing bonds, a disclosure statement said.

The move to reclassify marijuana as a less-dangerous drug comes amid slowing growth of cannabis-related tax revenue in states that legalized it, like Colorado.

Pittsburgh recently celebrated removing 11,000 lead water service pipes. It has around 6,000 to go, and estimates that it will finish around 2026. 

Josh Shapiro proposed $500 million of bonds for site development in his executive budget. But site development has its risks, and the returns may take time.

Since war broke out on Oct. 7 between Israel and Hamas, over $1.64 billion of Israel bonds have been sold to more than 35 U.S. states, counties, cities and municipalities.

After decades of underinvestment, Pennsylvania is launching two new grant programs to help schools fund facility improvements. These grants, the state hopes, will encourage districts to spend more money of their own.