News and Information from Bond Buyer

Mary Simpkins, who joined the SEC's Office of Municipal Securities in November 1997, is retiring.

As muni advocates fight for the preservation of tax exemption, foreign investors are using the ASCE Infrastructure Report Card as evidence that increased privatization of assets is needed to improve the grades.

The departures happened around the time Barclays handed out companywide bonuses and coincided with the firm in the process of shrinking its muni footprint in the regions, according to sources.

Only Georgia has a higher state-level infrastructure grade from the ASCE than the the C the U.S. received this week. More in the Southeast are C-minus or lower.

The S&P issuer rating upgrade marks the second for Oklahoma since September when Moody's raised its rating a notch to Aa1.

"We're navigating a crosscurrent of macro risks — tariffs, tax policy proposals, DOGE cuts, and evolving economic data — layered on top of a broader risk-off tone," said James Pruskowski, CIO of 16Rock Asset Management.

The Los Angeles Legislative Delegation penned a letter to state budget leaders asking for $1.9 billion in fire recovery aid for the city after meeting with city leaders.

The effects of infrastructure spending and the need for more are coming into focus as the municipal bond community is dealing with a Congressional threat to eliminate the tax-exempt status of munis. 

The legislation would create a bond-financed reinsurance program to stabilize the homeowner's insurance market, which has been impacted by wildfires.

United First Partners was fined for reporting and supervisory rule violations as part of a wider FINRA disciplinary action involving the firm.

The Illinois Finance Authority will go to market with $850 million of revenue and refunding bonds for the Illinois Environmental Protection Agency next week.

What's happening to the muni market is the "confluence of modest selling (via fund outflows and retail perhaps pausing during tax season); a heavy new issue calendar; and very thin near-term reinvestment expectations," said Matt Fabian, a partner at Municipal Market Analytics.

Another big deal from a major borrower is moving forward after Rochester's City Council last week approved a conduit bond sale for the Mayo Clinic.

The American Securities Association's federal appeals court case regarding an SEC order has been stayed until Aug. 13.

The state treasurer is seeking someone willing to take the role on a permanent basis.

Goldman Sachs was tapped to lead a sales tax revenue bond issue to finance an arena to replace Paycom Center, home of the NBA's Thunder.

Colleges and universities have already begun hiring freezes and spending cuts, dialing back research and rescinding offers to Ph.D. candidates, the rating agency said.

Houston, Phoenix, and Dallas are taking action to address fiscal challenges brought on by litigation, state actions and a ballot measure.

The American Society of Civil Engineers released its infrastructure report card, which shows that billions spent on infrastructure is having overall positive effects on the condition of the nation's bridges, highways, and ports.

Lighter supply, at an estimated $7.9 billion, and still-attractive valuations should allow for solid muni performance this week, said J.P. Morgan strategists.