Wisconsin

Wisconsin reported healthier-than-expected fiscal 2021 results that should benefit a new money deal planned for next month.

Several Midwest-based not-for-profit health systems are set to borrow for new or acquired facilities and to refund debt with green bonds and taxables in the mix.

Kroll Bond Rating Agency upgraded Wisconsin’s general obligation bonds to AAA from AA-plus and S&P Global Ratings lifted them to AA-plus from AA.

An uptick in new money borrowing fell far short of making up for a decline in refundings.

Wisconsin's two-year budget was enacted despite the division between Democratic Gov. Tony Evers and Republicans who control the legislature.

As lawmakers debate a new two-year budget, the state increased general fund revenue projections by $4.4 billion.

The U.S. Treasury 10-year dipped to its lowest yield since March while municipal investors poured money into new deals and secondary trading helped push benchmarks even lower.

The state's revised contract with Foxconn on tax subsidies reflects the dramatic downsizing of the original project unveiled in 2017.

GOP lawmakers plan to scrap some of the Democratic governor's budget priorities, which include a $2.38 billion capital plan.

From the use of taxables to forward deliveries, refunding deals drove an overall 15.8% hike in Midwest bond volume that exceeded the national average.