Kroll Bond Rating Agency

KBRA said the negative outlook reflects declining coverage of maximum annual debt service coverage from both a lower tax rate and declining rum sales.

KBRA revised the outlook to negative on the Chicago Transit Authority's AA-minus rated TIFIA bonds, backed with farebox and operations revenue.

Kroll Bond Rating Agency downgraded Chicago's general obligation bonds to A-minus from A, citing high fixed costs and one-time fixes. The outlook is negative.

Set to be priced by Jefferies on Monday for retail investors and on Tuesday for institutions, New York City's tax-exempt general obligation bond deal is tentatively structured in four series with two subseries.

Year-to-date, MIA has seen passengers levels at 113% of pre-COVID 19 levels, boosted by domestic travel, according to a report from BofA Global Research.

Moody's also affirmed the A3 rating on the MTA's $20.6 billion of transportation revenue bonds.

"Pennsylvania's positive outlook is based on the significant increase in budget reserves over the past three fiscal years to levels consistent with higher-rated peers," Moody's said.

"The improved rating outlooks are critical for the Power Authority to ensure that we can continue leveraging the capital markets," said NYPA President and CEO Justin E. Driscoll.

Over the next few months, the state will be crafting regulations for a carbon emissions bill it hopes will provide an additional revenue source to help smooth some of the state's economic volatility.

The state, burdened with volatile revenue streams because of its dependence on natural resources, has lower ratings from Fitch, Moody's and S&P .