Northeast

Fitch raised its rating on about $260 million of municipal bonds, backed by payments-in-lieu-of-taxes, from C — the lowest category before default — to CC.

The $684 million turnpike deal is one of a spate of recent forward delivery deals driven by interest rate uncertainties. 

The troubled American Dream mall in New Jersey's Meadowlands benefited from a wider growth in consumer shopping demand.

Pittsburgh recently celebrated removing 11,000 lead water service pipes. It has around 6,000 to go, and estimates that it will finish around 2026. 

In a new debt profile report, the Comptroller Thomas DiNapoli says the MTA will be pressured if congestion pricing tolls in Manhattan are blocked.

Delivery delays for Boeing planes are impacting airports, with Southwest Airlines recently announcing it is pulling out or reducing flights at some facilities.

New York Fed President John Williams said the Fed "will cut rates eventually" during a fireside chat at Milken Institute's Global conference on Monday.

Josh Shapiro proposed $500 million of bonds for site development in his executive budget. But site development has its risks, and the returns may take time.

Assured's controlling vote is "important to investors who were reassured to hear that there would be a large sophisticated party with a significant economic interest in the success of the project," the insurer said.

April's volume stood at $40.456 billion in 653 issues, up 21.2% from $33.377 billion in 666 issues in 2023.