Texas

A six-notch downgrade gives the financially troubled city a non-investment grade rating of BB-plus with a negative outlook.

The state is gearing up to grow its space industry as the federal government starts allowing tax-exempt private activity bond financing for spaceports.

La Marque's two-notch downgrade from Moody's follows a rating cut last month by S&P; both agencies put the city on review for potential further downgrades.

Four cities were ordered to halt recent tax hikes pending an investigation of whether they complied with a state law that enforces a deadline for annual audits.

The city of La Marque is taking steps to stabilize its shaky finances after a short-lived debt service payment default and a bond rating downgrade.

Tripp Kaiser, a managing director at Municipal Market Analytics, will become executive director of the Center on Municipal Capital Markets in January.

The outlook revision to negative for the Texas Biomedical Research Institute cited weakened liquidity and reliance on federal grants, the rating agency said.

Two triple-A bond deals from the Lone Star State to finance water-related projects are scheduled to price this week in the municipal market.

Fitch cited the system's operating performance and plans for up to $4.2 billion in addional debt.

Bondholders are pitted against each other in the case, where it looks like the majority holders may become owners of the distressed companies.

Backers of a voter-approved public safety funding proposition that led to a negative rating outlook by Moody's said the budget fails to comply with the measure.

Central Texas Regional Mobility Authority's ratings were raised by Moody's, which, along with S&P, upgraded North East Texas Regional Mobility Authority's.

The rating agency's review was triggered by the city's move to effectively end plans for a seawater desalination project that has $235 million of bonds outstanding.

With the estimated cost rising to $1.2 billion, the city council took action to end planning for the project, sparking concerns about outstanding bonds.

Controller Chris Hollins warned the city lacks sufficient reserves to deal with weather-related disasters in the face of reduced federal financial assistance.

Aleon Metals, along with its subsidiaries, which sold more than $300 million of tax-exempt revenue bonds since 2019, filed Chapter 11 bankruptcies in August.

Legislation passed in Texas and other Southwest states this year seeks to increase or explore funding sources to finance water supply and infrastructure.

The proposed $1.3 billion arena would be financed with city revenue bonds, along with county taxes, subject to voter approval, and a team contribution.

"Annette's expertise and experience add an important new dimension to our already strong Texas K-12 public finance team," Ajay Thomas, FHN Financial's head of public finance, said.

A lawsuit seeks to force the Texas city to reword its Nov. 4 property tax rate hike proposition to correct "misleading" language.