State of Illinois

Pushing off painful decisions tanked Illinois' ratings while California reaped spread and rating benefits from better choices.

With tax season in the rear view mirror, supply is set to rise to $7.8 billion as demand rebounds.

Next week's $7.8 billion new issue slate features airport and water deals coming from New York and Texas issuers.

Municipal bonds held were firm ahead of California's $2.2 billion taxable offering, which is being marketed to international investors.

Muni performance is looking good this month, as California gets set to sell $2.2 billion of taxable general obligation bonds.

Municipal market volume will rise by two-thirds to $7.45 billion in the coming week, led by a $2 billion taxable deal from California.

Illinois spreads are rising as the state plots its first sale of 2018 for May.

Moody's labeled the Illinois high court's refusal to hear an appeal on step raises a "credit negative" for the state.

The state’s net position of governmental activities eroded by $10.1 billion to reach a negative $141.7 billion.

Puerto Rico's default is generating concern over mainland special revenue bonds and distressed issuers, and undercutting confidence in municipal credit nationwide.