Markets

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.

The average weekly issuance is at least $10 billion, said John Flahive, head of investment solutions and co-head of municipal bonds at Insight Investment.

The ratings agency cited low days cash on hand and operating losses at the system, which operates one of the leading academic medical centers in Kentucky.

The county awarded $215 million of general obligation limited tax bonds for a jail project with uncertain future funding to lowest bidder BofA Securities.

The Fayetteville Public Works Commission bonds are to be priced competivitely Oct. 21.

Municipals are impacted by fluctuating supply and demand influences more than most other markets, said Jeff Timlin, a partner at Sage Advisory.

Carving up risk allows buyers who normally shy away from junk bonds to buy the pooled securities.

Illinois school districts face worsening credit pressure due rising personnel and special education costs and slower home price growth, S&P Global Ratings said.

The Pennsylvania healthcare system is touting plans to grow its network as it funds an expansion for its largest hospital, in York.