Texas

Cuts in U.S. Army ranks could pose a long-term risk to military housing bonds, though the most recent round should not affect ratings in the short-term, according to Fitch Ratings.

Texas expects to live well within its means for the next two fiscal years even as lower oil prices drag down sales tax revenues , according to Moody's Investors Service analysts led by Nicholas Samuels.

This month's $18.7 billion agreement with BP p.l.c. positions struggling Gulf coast states to receive financial relief, though the years-long payout won't provide immediate respite for some.

Plans to reduce U.S. Army ranks by 40,000 soldiers add pressure to military communities and raise risk for bonds used to privatize base housing, experts said.

For the first time since May 2010, Texas sales tax revenues fell below the same month in the previous year, Texas Comptroller Glenn Hegar reported July 8.

For the first time in nearly three decades, Texas will not need to issue tax and revenue anticipation notes to cover its short-term cash-flow needs, according to state Comptroller Glenn Hegar.

Moody's Investors Service dimmed its outlook on Houston's Aa2 general obligation rating to negative citing concerns about the city's pension obligations.

San Antonio's CPS Energy, one of the largest and most highly rated public utilities in the nation, will lower its interest costs with a $315.7 million revenue bond refunding.

A legal battle over use of a gate at Love Field will delay $110 million of revenue bonds for an urgently needed parking garage at the Dallas airport.

The Texas Transportation Commission has approved $239 million for projects covered by Proposition 1, a constitutional amendment passed by voters in 2014.

Dallas Independent School District voters could see up to $1.5 billion of bonds on their November ballot under a plan submitted for consideration June 25.

Three years after entering investment banking in earnest, Frost Bank is building relationships with Texas issuers, including hometown clients like the San Antonio Independent School District.

Moody’s Investors Service maintained a negative outlook after downgrading Polk County, Texas, to A2 from A1. Analysts cite the county’s dependence on oil and gas and loss of revenue from a private jail that defaulted on its debt.

A new Texas law that increases contributions to the state employees’ pension plan will add support to the Lone Star State’s triple-A credit rating, according to Moody’s Investors Service.

The wettest May on record, in which the state of Texas averaged nearly nine inches of rain for the month, has brought an end to the state's four-year drought, according to Fitch Ratings.

Despite a slump in oil prices, Texas sales tax revenues rose 5.2% in May compared to the same month last year, Comptroller Glenn Hegar said.

Texas Comptroller Glenn Hegar certified a $209.4 billion state budget passed by the Legislature and headed to the desk of Gov. Greg Abbott.

The Texas Transportation Commission will bring $800 million of refunding bonds to market in its first issue since the Legislature approved a record funding increase for highway projects.

Two weeks after El Paso Children’s Hospital filed for bankruptcy, the county hospital district that issued $120 million of bonds filed a voluntary disclosure of the filing on the Municipal Securities Rulemaking Board’s EMMA Web site.

A for-profit detention center in Willacy County that was evacuated after an inmate uprising is in default on its $78.5 million of bonds issued in 2011, according to trustee U.S. Bank National Association.