CHICAGO -- Cincinnati’s mayor-elect is killing a pair of controversial bond-funded projects, including one just days away from entering the municipal bond market.

John Cranley, a municipal bond attorney who beat incumbent Mayor Mark Mallory last week, said Tuesday he would officially halt a deal to finance a new streetcar system. The city already sold bonds to finance the first stage of the project. It’s not immediately clear what the move means for those bondholders.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.