Moody's Investors Service has upgraded 10, downgraded 7, and affirmed 9 long-term ratings of letter of credit (LOC)-backed U.S. municipal obligations. Additionally, Moody's has placed one long-term rating under review for downgrade. Debt affected by these rating actions totals $1.7 billion. Moody's has taken these rating actions in connection with its on-going surveillance of the 754 letter of credit-backed transactions rated based on a joint default analysis (JDA) which have an aggregate face amount of $45.33 billion. None of the bonds' short-term ratings were affected.
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CDIAC's revamped website, which launches May 1, will offer accessibility to state and local debt from issuance through maturity; and the ability to create summary reports based on search features.
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The Governmental Accounting Standards Board is looking for feedback on disclosure requirements related to infrastructure projects.
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The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
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With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
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Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
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Steven Mahr moved to Chicago two years ago, and in March, he moved from Stifel to the city's finance department, where he's now happily tackling tough problems.
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