The muni market will also receive $28 billion of principal and interest set to be paid to investors Thursday, according to CreditSights.
The SEC would have a hard time "proving even one, let alone all, of the requirements necessary for 'control person liability,'" one the JPAs said.
Recent property tax reforms in Indiana and Missouri are starting to impact school districts and local governments in those states.
"Assured is going nowhere and will be here long after the Chapter 11 cases conclude," the attorney representing the bond insurer told the bankruptcy court.
The muni market is getting some relief from the new-issue calendar, as issuers have put deals on hold, according to Pat Luby, head of municipals and senior market municipal strategist for CreditSights.
The city delayed a $1.8 billion deal that was on the calendar this week, but the new money deal proceeds will be needed for a project tied to the 2028 Olympics.
