| 8/27/2014 | 8/20/2014 | ||||
|---|---|---|---|---|---|
| State | Iss | Amount ($000s) | Iss | Amount ($000s) | Chg in Amt ($000s) |
| Alabama | 0 | $0 | 0 | $0 | $0 |
| Florida | 6 | 563,375 | 8 | 726,420 | -163,045 |
| Georgia | 2 | 24,260 | 3 | 30,365 | -6,105 |
| Kentucky | 3 | 19,965 | 5 | 36,410 | -16,445 |
| Louisiana | 1 | 118,875 | 2 | 154,875 | -36,000 |
| Mississippi | 1 | 3,000 | 0 | 0 | 3,000 |
| North Carolina | 0 | 0 | 2 | 121,785 | -121,785 |
| South Carolina | 1 | 21,500 | 1 | 11,000 | 10,500 |
| Tennessee | 1 | 27,400 | 6 | 122,465 | -95,065 |
| Virginia | 3 | 467,770 | 3 | 479,690 | -11,920 |
| West Virginia | 1 | 18,000 | 0 | 0 | 18,000 |
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Munis are entering a negative feedback loop, according to J.P. Morgan analysts led by Peter DeGroot.
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Credit ratings for California utilities could face downward pressure as recurring wildfire risks test safety funds and strain balance sheets.
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"In a few years, Brightline may have to consider going through something like this again," warned one investor.
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Bondholders and Assured Guaranty are providing substantial funding in post-petition and post-bankruptcy packages to keep the project operating.
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GASB has issued updated questions and answers designed to clarify how subsidies relate to operating revenue, an important distinction affecting higher education, and transportation entities.
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