Pennsylvania

"Our ratings reflect the progress the city has made over time on important issues like rebuilding reserves and improving the health of our pension fund," said Philadelphia Treasurer Jackie Dunn.

Outflows continued with the Investment Company Institute reporting investors pulled $128 million from mutual funds in the week ending March 29, after $693 million of outflows the previous week.

Maurice "Mossie" Murphy Jr. died after a three-year battle with cancer.

Moody's downgraded $651 million of Main Line Health Services revenue bond debt to A1 from Aa3.

The city has estimated liabilities of between $100 million and $500 million and assets of only between $10 million and $50 million, according to the filing.

The $200 million bond deal prices next week. The Jesuit school absorbed the nearby University of the Sciences earlier this year.

Triple-A curves were a touch firmer in spots as secondary trading took a backseat to the larger primary activity with Connecticut and Massachusetts pricing general obligation bonds, a large CommonSpirit healthcare and several competitive issues led by Rhode Island GOs.

The Investment Company Institute reported $2.527 billion of outflows from muni bond mutual funds in the week ending Aug. 31 compared to $765 million of outflows the previous week.

The Northeast's issuers sold $49.69 billion of municipal bonds in the first half of 2022, down more than 18% year-over-year.

The new law kills tolling for the Major Bridge program but allows the P3 contract to remain in place.

The condition of infrastructure projects should be included in bond pricing metrics as many infrastructure assets around the country have turned into liabilities.

Fitch Ratings said the upgrade reflects the city's improved operating performance due to a robust tax revenue rebound and management's proactive budgetary actions.

Hosting a World Cup game brings a variety of economic benefits to cities and counties, from increased spending by fans and tourists from around the world to burnishing a region's reputation.

The temporary injunction halts all work on Pennsylvania's $2.2 billion Major Bridges program.

The recovery is expected to continue this year and into next as the tourism industry looks to surpass 2019’s record-setting year.

Using a surplus to build reserve levels was key for the outlook change, the rating agency said.

After dropping dramatically with the onset of the COVID-19 pandemic in 2020, energy severance tax revenue is soaring along with oil and gas prices.

The twice-annual call for unsolicited proposals is part of what the state dubs one of the most ambitious P3 transportation programs in the country.

Even deals that go bankrupt can be seen as successes in the U.S. P3 market, which may face an "inflection point" with the new infrastructure law.

Fitch also affirmed the city’s AA-minus general obligation bond and issuer default ratings.