Organization Root Tag

The Chicago Board of Education on Wednesday saw its issuer rating and debt ratings from Moody's Investors Service elevated a notch to Ba1 from Ba2.

Affordable housing expert Marian Zucker retired on Dec. 1 as head of S&P Global Rating's housing group after over 40 years of working in the public and private sectors of the municipal bond industry.

The December consumer price index came in slightly stronger than expected, perhaps eliminating the possibility of a rate cut in March, analysts said.

Insurance companies and banks have collectively reduced their municipal bond holdings by $102 billion, or 10% in just nine months in 2023.

John Fleming, a four-term congressman and former Trump administration official, took office as state treasurer. Jeff Landry of the GOP was sworn in as governor.

The Fed, financial markets, the upcoming election and AI took center stage on at the Executives' Club of Chicago's Annual Economic Outlook panel.

"It is not surprising that we have witnessed — and continue to witness — a great migration of Americans away from cities and states pursuing failed policies, with Florida serving as a refuge for freedom and sanity," Gov. Ron DeSantis said.

The board says the bondholders have no "unsecured claim" and only a lien on a small amount of money held by the authority when it was placed into bankruptcy.

Republicans are threatening to try to overturn the rule through the Congressional Review Act.

The Governmental Accounting Standards Board's new disclosure requirements focus on concentrations and constraints and governments will have to comply by June 15, 2024.

Office sectors in some Southwest cities, including Houston, are stressed due to elevated vacancy rates that may lower assessed values and property tax revenue.

The state of Illinois is preparing to issue $600 million in new Build Illinois junior sales tax revenue bonds next week.

Half of the top 10 issuers were new entrants: the California Community Choice Finance Authority, Main Street Natural Gas, the state of Washington, the Texas Natural Gas Securitization Finance Corp. and Illinois.

RBC ramped up business to land at second place and Jefferies rose to third while Raymond James entered the top 10, knocking Barclays to 11th. Citi, which exited the business, closed at sixth place.

After this week's sale, the state intends to issue another series of refunding bonds in February in connection with a potential tender offer for taxable GOs and a current refunding of some tax-exempt GOs.

Judge says the issues can be considered at March's confirmation hearing.

Without admitting or denying the findings, David Elgart of Sequoia Investments has agreed to a $20,000 fine and an 18-month suspension from association with any FINRA member firm for acting as an unregistered dealer.

"The work done by our agency often focuses on the long-term," said Connecticut State Treasurer Erick Russell.

Labor costs that continue to squeeze operating margins remain the biggest obstacle for the nonprofit healthcare sector.

Moody's also affirmed the A1 rating on the authority's $3.2 billion of general revenue bonds and the A2 rating on the $2.5 billion of general revenue junior indebtedness obligations.