Standard & Poor's Ratings Services said it lowered its rating on Rowlett, Texas' water and sewer system bonds to A-plus from AA-minus.
At the same time, Standard & Poor's assigned its A-plus rating to the city's series 2015 waterworks and sewer system revenue refunding and improvement bonds. The outlook is stable.
"The downgrade reflects increasing financial pressure on the water and sewer fund," said Standard & Poor's credit analyst James Breeding.
Proposed federal grant rules and dwindling aid are among the factors that municipal market participants should be tracking, said panelists at The Bond Buyer's infrastructure conference.
Foley & Judell's Hathorn is to receive this year's Bernard P. Friel Medal while Barnes & Thornburg's Henck is to receive the Frederick O. Kiel Distinguished Service Award.
Joe's introduction to municipal bonds came long before his career began. His parents, who owned a small business, regularly invested in municipal securities.
"I've always been driven more by people than subject matter," Kirsten says. "The people I met were passionate about what they do and that passion was contagious."
Diana has built a reputation for candor in expressing bold opinions and a commitment to analytical excellence.
"I like seeing the progress in the communities I work with," Jorge says.
