News and Information from Bond Buyer

The Puerto Rico Housing Finance Authority will be in the market with almost $250 million of public housing project refunding bonds.

A project to bring train service to LaGuardia Airport is closer to breaking ground despite the fiscal headwinds created by the COVID-19 pandemic.

Irene Carroll and her company, Funding the Gap LLC, settled with the SEC Friday for not registering as municipal advisors. The SEC said Caroll knew she provided similar services as an MA.

Allyson Belsome, program manager of the IRS Office of Tax-Exempt Bonds spoke to members of the National Association of Bond Lawyers.

The Municipal Securities Rulemaking Board's David Hodapp said an MA's fiduciary duty to an issuer trumps fair dealing obligations to investors.

S&P said the downgrade is the result of what is likely a one-off analytic error in 2005; the bonds in question are held by Fannie Mae and have never traded.

Michigan avoided deep cuts for fiscal 2021 but is still lobbying for federal relief to make up for coronavirus-driven tax losses as a fiscal 2022 gap looms.

While the Fed has written off negative interest rates as a last resort, without stimulus, consideration may be nearer.

The firm hired seven new senior-level bankers in its fixed income division.

The public-private partnership that had been constructing the light rail line and stations has shut down construction work.

A group of pensioners is trying to stop the bond sale.

While Scott Stringer and Eric Adams now top list of successors to Bill de Blasio, the political dynamic may have changed in the wake of social justice protests and the COVID-19 pandemic.

Without more fiscal support, the outlook becomes murkier with the possibility of economic data disappointment and volatility in rates, and historically muni demand dampeners, Morgan Stanley said.

Florida State University's voluntary disclosure on lower dormitory occupancy is an example of providing timely information, Moody's Investors Service said.

The state's new accounting system gets the blame again for California's second year with an extremely late CAFR.

Johanna Som de Cerff of the IRS Office of the Associate Chief Counsel spoke during an online presentation to the National Association of Bond Lawyers.

While not a huge gain, "claims remain staggeringly high" six months into the economic downturn, analysts say.

From June to July, not many municipal advisors relied on the SEC's temporary exemption and some sources say they don't expect it to be heavily used.

Mayor Bill de Blasio expanded furloughs to all managerial and non-represented employees while City Hall also faces an alarming coronavirus spike in some neighborhoods.

Breckinridge Capital Advisors’ Rob Fernandez, Director of ESG Research, and Andrew Teras, Senior Vice President, talk about how climate change can impact the municipal bond market as the country faces increased risks from coastal flooding, wildfires and drought. Chip Barnett hosts (24 minutes)