| Jun. 30, 2014 | |||||
| Northeast: Plain/Insured GO Yield Curve* | |||||
| State | Ratings | One-Year | Five-Year | 10-Year | 30-Year |
|---|---|---|---|---|---|
| Connecticut | Aa3/AA/AA | 0.15 | 1.41 | 2.56 | 3.59 |
| Delaware | Aaa/AAA/AAA | 0.09 | 1.2 | 2.26 | 3.28 |
| Maine | Aa2/AA/AA | 0.12 | 1.28 | 2.37 | 3.39 |
| Maryland | Aaa/AAA/AAA | 0.11 | 1.21 | 2.27 | 3.29 |
| Massachusetts | Aa1/AA+/AA+ | 0.12 | 1.28 | 2.43 | 3.5 |
| New Hampshire | Aa1/AA/AA+ | 0.11 | 1.26 | 2.37 | 3.39 |
| New Jersey | Aa3/AA+/AA+ | 0.21 | 1.52 | 2.63 | 3.66 |
| New York | Aa2/AA/AA | 0.11 | 1.25 | 2.34 | 3.45 |
| Pennsylvania | Aa2/AA/AA | 0.12 | 1.37 | 2.54 | 3.56 |
| Rhode Island | Aa2/AA/AA | 0.15 | 1.43 | 2.61 | 3.68 |
| Vermont | Aaa/AA+/AAA | 0.11 | 1.26 | 2.33 | 3.34 |
| Dist. of Columbia | Aa2/A+/AA+ | 0.13 | 1.34 | 2.52 | 3.57 |
| Puerto Rico | Baa3/BB+/BBB- | 7.71 | 8.41 | 8.72 | 7.99 |
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Munis are entering a negative feedback loop, according to J.P. Morgan analysts led by Peter DeGroot.
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Credit ratings for California utilities could face downward pressure as recurring wildfire risks test safety funds and strain balance sheets.
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"In a few years, Brightline may have to consider going through something like this again," warned one investor.
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Bondholders and Assured Guaranty are providing substantial funding in post-petition and post-bankruptcy packages to keep the project operating.
September 25 -
GASB has issued updated questions and answers designed to clarify how subsidies relate to operating revenue, an important distinction affecting higher education, and transportation entities.
September 25 -
Ahead of a refinancing next week and a new money deal next month, Chicago's spreads have widened, suggesting the market may be pricing in a downgrade, analysts said.
September 25









