S&P Global Ratings lowered its rating on New Jersey's Qualified Bond Act Program to BBB-plus from A-minus.
The outlook is negative.
"We base the downgrade on our recent downgrade on New Jersey's general obligation debt," said S&P Global Ratings credit analyst David Hitchcock.
The rating on bonds guaranteed under this program moves in conjunction with the state general obligation rating (A-minus/negative).
KBRA approves of New Jersey's pension progress and budget management.
Chicago's projected FY2027 was down $283.9 million from the $1.2 billion estimate in last year's budget forecast.
The market is striking a better tone as investors are less worried about rate hikes, NewSquare Capital portfolio manager Kim Olsan said.
More than $2 billion of affordable housing and healthcare bonds were approved by the North Carolina Local Government Commission.
The incoming Bond Buyer Hall of Famer repeatedly brought financial discipline and long-term thinking to public entities before helping them tackle some of Indiana's most complex infrastructure financings.
Water issues are getting attention on Capitol Hill as questions about reauthorizing state revolving funds and the impact of data centers on ground water supplies are mixing with politics.
