Moody's Investors Service said it has upgraded the city of Spearfish, S.D.'s sales tax rating to A1 from A2.
The city has $6.4 million of sales tax debt outstanding, all of which is Moody's rated.
The A1 sales tax rating reflects the broad base of the city's sales tax, strong debt service coverage levels that have further developed in recent years, positive sales tax trends, and adequate legal structure.
Participants in a power panel at The Bond Buyer's Infrastructure conference discussed current trends and the way forward for public power.
The front-end cheapening follows Wednesday's bear flattening of the UST curve in response to the Federal Reserve hiking rates and a median 2026 dot that implied another hike before yearend, said Kevin McGuigan, director at Municipal Market Analytics.
The guidance comes after Dave Sanchez, director of the Office of Municipal Securities, earlier this year signaled a focus by the SEC on whether MAs are fulfilling their duties to clients.
Despite the approval, ongoing litigation is attempting to stop the incentives to the plant.
The $5.66 billion spending plan for the fiscal year that begins Oct. 1 continues a voter-mandated plan to increase public safety spending.
Housing officials in several cities are already laying the groundwork that will enable them to take advantage of the 21st Century Road to Housing Act passed by Congress earlier this year even though funding has not yet been appropriated.
