Southeast

Moody's based this downgrade on the lowering of the rating of the United States government.

At a Bond Buyer conference in Atlanta, industry leaders talked about tariff turmoil, the tax-exemption, weather resiliency, infrastructure and more. 

Among the defeated referendums were three for bonds totalling $146 million.

Strong enplanement growth, an expansive number of days of cash on hand and low costs outweigh credit concerns, analysts said.

The muni market is recovering from tariff turmoil, and is more resilient than the day-to-day volatility suggests, Jamie Doffermyre of Truist Securities said.

Moody's Ratings cited low liquidity as a reason for the downgrade.

The Commercial Metals Company and the West Virginia Economic Development Authority took a chance by coming to market with a tax-exempt $150 million junk-rated private activity bond sale financing a scrap metal steel mill during uncertain times for the construction industry.

The third-most-populous Louisiana city is closing out a 2021 bond authorization, but has plenty left from a 2024 bond referendum.

The downgrade pushes $2.2 billion of private activity bonds issued for the passenger train startup though the Florida Development Finance Corp. to junk.

Charlotte will sell $330 million of bonds and Duke Health will offer $540 million.