News and Information from Bond Buyer

The second quarter should bring more opportunity and less volatility following the worst quarter in four decades, analysts said.

Fitch Ratings revised its outlook to stable from negative on the state's A-plus rating, two weeks after the state received a positive outlook from S&P.

The state’s personal income tax revenue and sales tax revenue bonds were also lifted from Aa2. Related credits were also upgraded. The rating outlook is stable.

Investors pulled more from municipal bond mutual funds as the Investment Company Institute on Wednesday reported $4.786 billion of outflows, up from $4.459 billion of outflows in the previous week.

The the $389.495 million of tax-exempts were sold late last month to help fund construction of the Broward County Convention Center Headquarters Hotel.

States need to balance the growing concerns about oil prices with the need for infrastructure, Secretary of Transportation Pete Buttigieg said.

The massive snowstorm that hit Texas in February 2021 brought to light the state's unique energy challenges. It also gave the rest of the country a glimpse of the trouble that climate change could bring for power grids all over the U.S. As climate change accelerates, many electric grids will experience severe weather events that are well beyond the historical conditions for which they were built, which places them at risk of catastrophic failure. In this session, we will investigate the risks and solutions that will have an impact on this sector.

High gas prices usually have the biggest effect on leisure travel because drivers take fewer or shorter trips, Fitch Ratings says.

Our panel of issuers will share their insights into the current state of the public finance sector and the road ahead. Topics of discussion will include the economic growth, total issuance, taxable municipals, state and local government credit conditions, growing focus on ESG factors and more.

Denver will head to the municipal market next week with its biggest new money general obligation bond sale ever at $366.4 million.

Considering the feds’ activity, current inflation levels and the pandemic, how does the buy-side view investing under these circumstances?

The panel discussion will focus on the growing frequency of cyber-attacks and the serious risks they pose to public finance agencies. One of those serious risks is the financial risk that could have an effect on municipal credit quality. Our panel of experts will examine the tangible and intangible costs of cyber breaches and potential risk-mitigation strategies that municipalities can implement.

As statistics continuously show that a diverse workforce has better outcomes, the discussion will center on what has been done thus far and what else needs to be done to diversify the workforce in the muni sector.

Apollo will make an equity and credit investment that will significantly increase SWS’s underwriting capacity for municipal and corporate debt, as well as equity offerings, the firms said.

This session will cover our view of the education sector, namely higher education institutions ( public and private), charter schools, and community colleges. Our panelists will also discuss the impact of key issues facing the sector like inflation, exhaustion of federal aid, and upcoming elections.

The pandemic in certain ways sped up the municipal market’s use of technology. How are participants using technology in a market that often lags others in this space? Additional points of discussion will include: Electronic trading Machine learning and AI

The March consumer price index offered little to deter the Federal Reserve from its aggressive plans, but markets saw it as a positive, having feared an upside miss.

This session will cover the recent pension funding improvements at the state and local levels after a combination strong asset returns as well as benefit changes. Our panelists will also discuss the risks that inflation, equity market turbulence, and rising interest rates pose to governments via their pension systems.

The U.S. municipal healthcare sector has been quite resilient in the face of the COVID-19 pandemic. Our panelists will discuss opportunities and challenges in the sector as it continues its rebound from pandemic pressures.

The Fitch Ratings upgrade to A-plus applies to $80 million in debt issued for the University of Portland in Oregon.