News and Information from Bond Buyer

The city's current trajectory could drive per-unit costs to $1 million, according to the audit by City Controller Ron Galperin.

Lawmakers are being asked to put off a deadline to consolidate suburban Chicago and downstate police pension assets and extend the deadline for funds to reach a 90% funded ratio by 10 years.

The board also says the bondholders' proposed deadlines for completing a restructuring are too tight.

Fitch also affirmed the city’s AA-minus general obligation bond and issuer default ratings.

Municipal bond issuance in the region was down 11.7% year-over-year in 2021, as new money, refunding, taxable and tax-exempt volume all slipped.

Soaring inflation could pressure the ratings of utilities if they bring rate hikes that spark customer and political opposition, S&P Global Ratings said.

Pandemic-related aid helped raise the proportion of state revenues coming from the federal government to record highs in fiscal year 2020, Pew Research found.

Investors yanked $1.154 billion out of municipal bond mutual funds in the latest week, Refinitiv Lipper reported.

Gov. Steve Sisolak plans to dedicate $500 million in federal funds to developing affordable housing.

The Illinois Sports Facilities Authority projects a fiscal 2022 shortfall in hotel tax collections needed to repay the annual state advance that covers debt service.

Issuers in California sold more than $86 billion of municipal bonds in 2021.

Some public finance, racial justice, and congressional advocates say baby bonds are needed like never before to combat wealth inequality.

The Securities Industry and Financial Markets Association has bolstered its team with the additions of Jennifer Jacoby, Matthew Grinney and Nick Key.

A judge has ordered the state to reconsider its rejection of a bid for a $9 billion P3 for new toll lanes, a move that could delay Gov. Larry Hogan’s priority project.

The Investment Company Institute on Wednesday reported $3.120 billion of outflows in the week ending Feb. 16, up from $993 million of outflows in the previous week.

The Oversight Board also approved a new fiscal plan for the Highways and Transportation Authority.

Moody's Investors Service said the upgrade reflected the university's robust, sustainable operating margins supported by consistent growth in tuition revenue.

A bill to prevent tax-exempt financing of professional sports stadiums may become part of a larger tax bill, as further discussions to revive some muni provisions may begin this year.

Overall volume in the Southeast rose 1.8% last year even as taxable issuance plunged and refunding deals shriveled up.

Between the long holiday weekend and investors trying to absorb the Russia-Ukraine developments, it was a slow start to the week in the municipal market.