State of Ohio

Ohio legislators plan to vote Wednesday on a resolution that would put a $2.5 billion general obligation bond measure on statewide ballots May 6.

Finance officials from Ohio, Illinois, Pennsylvania, Oklahoma and Palm Beach County have joined Israel Bonds' new Government, Industry and Financial Services Leadership group.

Friday's S&P upgrade to triple-A follows similar moves by Moody's Investors Service last week and Fitch Ratings last year.

Moody's, which last rated the state triple-A in 1979, pointed to an economy that's "poised for diversification and growth."

The deal marks one of the rare instances of true asset recycling in the U.S.

The county wants to enter into a public-private partnership to finance, build and operate a public utility and multiple microgrids that will sell power to advanced manufacturers who require hyper-reliable energy.

A pipeline of projects is building as infrastructure dollars begin to flow to states.

“I want to break ground next year,” Kentucky Gov. Andy Beshear said.

The $5.35 billion transaction being recognized by The Bond Buyer as Midwest Deal of the Year met a series of state goals.

Strong technicals, low supply, yield-seekers keep munis outperforming.

Although November posted the lowest monthly volume total this year, issuance has already exceeded 2019's total and is on track to set a new yearly record in 2020.

Long-term municipal bond volume is on pace to set a new record of yearly issuance, thanks in part to issuers rushing to market before the election and a continued taxable boom.

Municipal yields fell as much as three basis points on the long end of the AAA curves.

The municipal market saw a $40 billion-plus month for the second time this year, as issuers flooded the market with bond sales during the month of June.

The $779 million refunding will capture present value savings while pushing off some debt repayments for budget relief that Fitch called "reasonable."

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

The two state administrations laid out initial estimates of revenue losses due to the pandemic as the federal government debates additional relief.

April finished with $23.7 billion of issuance, a 15% decline from the $27.9 billion in April 2019. Volatility from the pandemic has caused erratic swings in benchmark yields, resulting in the lowest muni volume total in the month since 2011.

Municipal bond issuance was $67.88 billion after the first two months of 2020 and was on pace to easily eclipse the $400 billion mark — then COVID-19 completely turned the market upside down.

The state treasurer’s office began purchasing eligible VRDOs from participating Ohio health care systems and other critically important institutions.