News and Information from Bond Buyer

After more than a decade of ratings deterioration, the lowest-rated state won an upgrade Tuesday, taking its Moody's rating to Baa2.

A majority of the week's largest new issues priced at yields mostly at or around benchmarks as secondary trading did little to move scales. In economic data released Tuesday, the June consumer confidence index climbed, suggesting spending will rebound.

The amended budget bill approved by lawmakers Monday remains opaque on high-speed rail and broad band.

The board said the measures passed by both the Puerto Rico House and Senate would harm the economy.

The city's fiscal health is holding steady but pension funding strains and possible charter changes pose future threats.

Current rules require disclosures to customers who probably do not need them, industry lobbying groups argue.

A $3.7 billion transfer from the general fund would cover $2.5 billion for retiring and defeasing state debt, and $1.2 billion to backstop capital construction projects.

State Treasurer Shawn Wooden discusses the state's across-the-board bond rating upgrades, its immediate challenges and initiatives such as "CT Baby Bonds." Paul Burton hosts. (19 minutes)

The U.S. Department of Transportation secretary and elected leaders from New York and New Jersey pitched the $11.6 billion project, citing economic and safety concerns.

The agreement sets milestones for the project, expected to halve border wait times, to be completed by 2024.

The fiscally strained Chicago suburb's firefighters' fund isn't entitled to share in ARPA relief under a 2018 settlement, a state circuit court judge ruled.

With various Federal Reserve officials airing their views since the Federal Open Market Committee’s latest meeting, it may take a while for members to reach agreement on tapering, a boon for municipals.

Aid ranges from as much as 22.7% of fiscal 2020 spending in Wyoming to as little as 4.9% in Wisconsin.

With just a few days before the new fiscal year, Arizona lawmakers passed a $12.8 billion budget that largely neutralizes a tax measure voters passed in 2020.

Only two of the nine justices were in favor of adding New Hampshire v. Massachusetts to the docket for the fall term.

The deal qualifies as both an environmental impact bond and as a green bond under the International Capital Market Association's Green Bond Principles.

The costs of legal settlements in California police misconduct cases would be posted on city and county websites if the bill passes.

Economists in Puerto Rico panned the proposal to raise the rate to $9 per hour saying it would hurt businesses.

Making it a summer Friday, munis were quiet. Participants contemplate why the market underperformed taxables to the degree they did when fundamentals are objectively strong and little has changed since before the FOMC.

State and local government groups want the focus on reinstating tax-exempt advance refunding bonds and expanding the current financing tools.