Texas

The rating agency's release ESG credit indicators for states and territories last year was blasted by GOP officials for being politicized, vague, and confusing.

Private company Texas Central has pivoted to public funding to support its stalled high-speed rail project.

Wells Fargo is the latest investment bank to undergo a Texas Attorney General review of its compliance with a 2021 law.

J.P. Morgan held a one-day retail order for $1.65 billion of revenue bonds from the Dormitory Authority of the State of New York, while Minnesota sold $1.02 billion of GOs in the competitive market in five deals.

July's total volume was $25.939 billion in 542 issues, down from $28.258 billion in 619 issues a year earlier, the smallest percentage drop in monthly issuance year-over-year in 2023, according to Refinitiv data.

For the coming week, investors will be greeted with a larger new-issue calendar led by large New York and Texas ISD issuers, along with gilt-edged Minnesota selling competitively.

The second largest Texas city could be headed to a trifecta of triple-A ratings after Fitch revised the outlook on the city's AA-plus rating to positive.

Energy-producing states are riding out oil and natural gas price swings that affect severance tax collections.

Utilities paid sky-high prices for natural gas and power during Winter Storm Uri, leading to the issuance last year of nearly $2.9 billion of bonds to cover those costs.

Amid bankruptcy proceedings, the project's owner and bondholders agreed to a plan to re-issue most of the defaulted debt.

Escalating costs, particularly for wages, could strain budgets or drain reserves, the rating agency said.

With the third quarter officially under way, municipal bond experts say the tax-exempt market is poised for better performance and stronger market technicals ahead in the second half.

Legislative leaders said they agreed to an $18 billion package that includes a reduction in school property taxes and a higher homestead exemption.

Most top 10 issuers for 1H are from New York and California, with three from New York and three from California.

The rating agency said the airport has a one-in-three chance of an upgrade over the two-year outlook period.

The city would issue short-term debt this summer and refund it as part of a long-term bond offering next year.

With no agreement on how to structure a historic property tax cut, Gov. Greg Abbott ordered state lawmakers back for a second special session.

As the Republican-controlled state House and Senate remain divided on how to deliver a historic tax cut, the governor vetoed dozens of bills to pressure lawmakers.

The departure of four attorneys marks the second group exodus in Texas this year for Orrick.

Houston is one of the largest U.S. cities to set up a trust to help fund non-pension retiree benefits such as healthcare.