Virginia

The region's municipal bond volume grew by 42.4%, outpacing the nationwide 32% increase in a first-half marked by gas prepay deals and Brightline's big sale.

In the first half of 2024, winding-down federal aid, a resurgence of Build America Bond refundings and election uncertainty have contributed to the surge in issuance, said James Welch, a portfolio manager at Principal Asset Management.

A strong tax collection season combined with compromise to seal the deal in a special session.

The Virginia Beach Development Authority priced about $189 million of debt on Thursday with some of the bond proceeds financing portions if the attraction.

The budgetary process has been marked by political fights between the governor and the general assembly.

The Virginia Resources Authority and the Virginia Housing Development Authority have deals on tap while gilt-edged Delaware is selling its GO debt.

The city will leverage its own GO bonds to finance the stadium.

Capital outlay investments in the governor's "common ground budget" provide over $1.4 billion in general fund cash and tax-supported debt for projects, including $100 million of bonds for improvements to wastewater treatment plants.

D.C. promises $515 million in improvements to its existing downtown arena.

LSEG Lipper reported fund inflows of $63.8 million for the week ending Wednesday following $300.5 million of inflows the prior week. High-yield saw its 11th consecutive week of inflows at $180.4 million, down from $278.6 million the week prior.

"The muni AAA [high grade] curve has been relatively steady thus far in March, but lags relative to the broader fixed income market after sizable muni outperformance in February," said J.P. Morgan strategists. 

Natural gas prepayment deals helped drive the utilities sector to top the Southeast in an overall down year for municipal bond sales across the region.

Robert Poole, a leading expert in the U.S. public-private partnership transportation sector, joins infrastructure reporter Caitlin Devitt to talk about upcoming deals including toll lanes and bridges in the Southeast and high speed rail in the West as well as states that are advancing P3s and action on the federal front. (37 minutes)

A plan to build a new arena in Virginia accommodating two major league sports faces opposition both locally and from the teams' current home in Washington.

The top five bond financings have an average dollar volume of more than $917 million.

Governor Youngkin announced a proposal to move the NHL's Washington Capitals and the NBA's Washington Wizards out of D.C.'s Capital One Arena to Virginia.

Moody's kept stable rating outlooks on Florida, Maryland and Virginia after moving the United States to negative. D.C.'s outlook was cut.

State lawmakers cleared an $83.8 billion spending plan for fiscal year 2024 after a long dispute along party lines over spending provisions and tax cuts.

The North Alabama operator priced $190 million of revenue bonds Aug. 29 to support among other things the purchase of an orthopedic physicians' practice.

The region's issuers sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did during the same period last year