Moody's Investors Service said it has assigned a Aa3 rating to Cattaraugus County, N.Y.'s $3.75 million public improvement (serial) bonds, Series 2015.
Concurrently, Moody's has upgraded the county's $41 million in outstanding parity debt to Aa3 from A1.
The upgrade to Aa3 reflects the county's improved finances, moderately sized and stable tax base, and manageable debt burden.
Federal Reserve guidance will likely continue to support the long end, MMD's Kevin McGuigan said, but "investors need to be cautious about extending duration right now, given that a lot of the pressure on the long end has been the result of supply concerns."
With the effects of added Medicaid requirement looming next year, some states are already seeing stress cracks in their reserve fund balances and revenue levels.
Burton brings 35 years of municipal sales experience, most recently at Cantor Fitzgerald.
Healthcare providers will receive nearly $12 billion in funding in fiscal 2027 with federal approval of the state's Medicaid directed payment programs.
Since 2021, 223 mutual fund-to-ETF conversions have been completed, including 24 involving munis, according to Morningstar data.
With more than 25 years in executive leadership in Texas public education, Rees will develop bond underwriting opportunities in the state, a Stephens statement said.
