Moody's Investors Service has downgraded to Ba1 from Baa1 the rating on the Chicago Park District (CPD), IL's $616 million of outstanding general obligation (GO) debt. The Ba1 rating applies to $333 million of general obligation unlimited tax (GOULT) debt and $283 million of general obligation limited tax (GOLT) debt. The outlook remains negative.
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.
