News and Information from Bond Buyer

Photos from The Bond Buyer's 2023 Deal of the Year award dinner.

Friday's S&P upgrade to triple-A follows similar moves by Moody's Investors Service last week and Fitch Ratings last year.

The new-issue calendar comes in just over $3 billion, of which is $847 million of state personal income tax revenue bonds from the Empire State Development in three competitive sales.

"Higher education is going to be facing continued challenges in the near term," said Tom Kozlik, managing director at Hilltop Securities.

The flooding and massive storms that hit California in early 2023 that resulted in delays to income tax filings have led to lawmakers having to grapple with a $68 billion shortfall heading into the fiscal 2024 budget year.

Without admitting or denying the findings, Alan Appelbaum agreed to be barred from participating in any securities offerings, but is able to apply for reentry after ten years.

A constitutional amendment approved by Texas voters Nov. 7 will reduce public school property taxes, leaving the state to make up for the revenue reduction.

California's high-speed train is "facing a lot of the challenges that come with being the very first at anything," said Transportation Secretary Pete Buttigieg.

More than one out of every 100 residents who pay income taxes left the Empire State during the pandemic in 2020, according to report released by state Comptroller Thomas DiNapoli. And, while slowing, the trend hasn't stopped.

It's the second try for the bill, which Sen. Dick Durbin, D-Ill., first introduced in 2021.

LSEG Lipper reported Thursday that investors pulled $144.5 million from muni mutual funds for the week ending Wednesday after outflows of $58.9 million the week prior.

Michael Milken's attorney Richard Sandler penned a book blasting his friend's prosecution. High-yield muni experts weigh in on whether Milken's influence extended to the muni market.

The approval last month by Texas voters of a constitutional amendment to create an endowment fund led S&P Global Ratings to revise the school's outlook to positive from stable.

"BNP Paribas choosing Miami to open its newest office reinforces our community's status as a top financial market within the global economy," said Miami-Dade County Mayor Daniella Levine Cava.

Policy ideas for creating more affordable housing have the potential to impact public finance.

Municipal mutual fund losses continued last week as the Investment Company Institute Wednesday reported investors pulled $475 million from the funds in the week ending Nov. 29 after $97 million of outflows the previous week.

Most bondholders voted for the plan, which offers an upfront cash payment and the extension of bond maturities by 25 to 35 years.

The city of Chicago and its Sales Tax Securitization Corporation won The Bond Buyer's 22nd annual Deal of the Year award for its $1.7 billion financing that addressed initiatives related to affordable housing, homelessness support services, environmental justice, and community development.