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Government

Puerto Rico’s government has suspended setting aside money for its general obligation debt, increasing concern among some investors that even the island’s government-guaranteed debt may not be paid.

Chicago heads into 2016 budget season in need of $754 million to cover an operating deficit and higher pension contributions, according to figures released by Chicago Mayor Rahm Emanuel.

Puerto Rico’s economic activity index was down 0.3% in June from May.

Although drought conditions in Oregon are bad for credit overall, and especially in agricultural communities, official drought declarations by Gov. Kate Brown are a positive development, Moody’s Investors Service said Friday.

The Central Puget Sound Regional Transit Authority in Washington State is planning to sell nearly $1 billion of green bonds Aug. 4 to pay for its mass transit system and for possible refunding purposes.

Moody's Investors Service upgraded the Guam Waterworks Authority to investment grade, raising $376 million of revenue bonds to Baa2 from Ba1

Prices of top-shelf municipal bonds finished stronger on Friday, traders said, with yields on some maturities falling by as much as four basis points. For the week, muni yields were slightly weaker.

San Bernardino reached a tentative agreement with the police union, but negotiations continue with its firefighters’ union and the holder and insurer of its pension obligation bonds.

Glendale, Ariz.'s renegotiated lease agreement with the National Hockey League's Arizona Coyotes is a positive factor in the Phoenix suburb's A3 credit rating, according to Moody's Investors Service.

Numerous protestors plan to object to a Florida agency's approval of $1.75 billion of private activity bonds for a passenger train project.

Municipal volume is expected to spike to $7.8 billion for the week of Aug. 3, with an almost billion dollar deal coming from the Pacific Northwest and five separate competitive issues from Minnesota totaling more than $1 billion.

Municipal bond volume increased in July from a year earlier, as new money issuance more than made up for a drop in refundings to the lowest monthly level of 2015.

Requests for $500 million of federal TIGER grants available in fiscal 2015 total $9.8 billion, Transportation Secretary Anthony Foxx said.

Honolulu Mayor Kirk Caldwell announced that he has hired transit expert and consultant Michael Burns to oversee Oahu’s $6 billion elevated rail project.

The Metropolitan St. Louis Sewer District's public rate commission is backing the district's proposed rate hike plan and $900 million bond issue.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-minus from A-plus on Richmond, Texas' parity general obligation bonds.

Moody's Investors Service stripped Kankakee County, Ill., of its investment grade rating over its fiscal struggles and warned it might not stop at the Ba3 level.

Issuance of private-activity bonds subject to state volume caps rose in 2014 following three years of declining issuance, according to an annual survey conducted by the Council of Development Finance Agencies.