Markets

Proceeds from both will be used for building renovation or construction.

Despite some struggling projects, student housing P3 deals that hit the primary market this year have enjoyed oversubscribed demand.

Munis finally corrected Thursday after UST yields prompted investors to reevaluate the "overstretched" asset class, NewSquare Capital's Kim Olsan said.

The grace periods are getting shorter.

The district is planning to bring $1.17 billion of revenue bonds to the market next week.

The focus on Wednesday has been on the primary market, particularly the six-part $2.4 billion deal from the New York State Thruway Authority, which came a little wider than where the issuer had been trading in the secondary market.

Given the vastness of the municipal bond universe, analysts have credited some technologies for providing participants witthe ability to better manage, evaluate and navigate the market. 

The Aquarion deal is joined this week by two other sizable deals: the New York State Thruway Authority's $2.444 billion state personal income tax revenue bonds, and the New Jersey Turnpike Authority's $1.06 billion turnpike revenue bonds in two deals.

The Build America Bureau "continues to work with the project sponsor to obtain the information required for the creditworthiness review," said a USDOT spokesperson.

The city's issuer rating was raised a notch to Aaa and ratings for other debt, including for its water and wastewater utility system, were also upgraded.