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The high court validated about $800 million of ratepayer-backed bonds to finance the recovery of fuel costs incurred by Oklahoma Gas and Electric Company (OG&E) during the February 2021 storm. 

The development could potentially affect the tax-exempt status of bonds issued for the school, though it will likely be resolved before that happens.

Outflows continue with the Investment Company Institute reporting $5.371 billion pulled from muni bond mutual funds in the week ending April 27. Exchange-traded funds saw inflows at $1 billion.

The local government's bond restructuring law specified the tax was to go to the General Fund starting on March 15.

Joliet closed on two federal WIFIA loans that mark a milestone in the the city's plans to overhaul its water infrastructure.

The chances of an economic slowdown are rising as the Federal Reserve is poised to take further steps to tame inflation, say the heads of JPMorgan Chase, Bank of America and Morgan Stanley.

The municipal market was marked by some skittishness among investors on Tuesday as a new month gets underway.

Holders of $4.3 billion of HTA bonds will receive $1.2 billion of new bonds with 5% coupons and $389 million of cash.

As asset managers track winners and losers and the potential for the corporate bond default rate to spike, they consider differing factors.

With the ink still drying on the central government restructuring, analysts give takeaways from Puerto Rico's bankruptcy. Some point to credit fundamentals, others to lack of willingness to pay, as key drivers of the bankruptcies.

Investors will be greeted Monday with a steep drop in volume, with the new-issue calendar estimated at $4.583 billion — less than half of this week's supply.

While the outlook revision reflects the view there is a one-in-three chance RCID's credit profile could be positively or negatively impacted, future events remain unclear, said S&P's Christian Richards.

The MSRB plans to issue a request for comment on its Rule G-14, in addition to publishing a summary of the comments on its request for information on ESG factors.

Total April volume was $34.329 billion in 729 deals versus $37.105 billion in 1,124 issues a year earlier.

Improving tax revenues allowed the mayor to increase the size of his spending proposal while keeping the budget balanced.

Issue is disposition of $1 billion to $2 billion of Puerto Rico government funds.

The city has received a notice from the IRS seeking evidence bond proceeds were used on the construction, rehabilitation or repair of public school buildings.

Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus.

In the week ending April 13, investors pulled $5.526 billion from the funds, down from $7.227 billion of outflows in the previous week, ICI reported.

In a win for the Oversight Board and bondholders, an appeals court shut down a teachers' associations challenge, but another case challenging the plan has yet to be decided.