News and Information from Bond Buyer

Investors pulled more from municipal bond mutual funds as the Investment Company Institute reported $4.5 billion of outflows in the week ending March 30.

SSM returns to the market with $323 million, highlighting its stronger balance sheet, ESG efforts, and medical partnerships that reflect a sector trend.

The Washington-based system faces challenges, including operating pressures, variable utilization, and weaker liquidity making it more difficult for it to absorb the impact at its previous rating level.

The Economic Development Bank estimated the first half of fiscal 2022 had experienced a 5.5% increase in growth, upward from a 3.6% increase in previous estimates.

At least 80% of the fund has to be “ESG leaders,” or issuers that have shown leadership in terms of environmental and social stewardship within their communities relative to their peers and that sector.

S&P revised the outlook on Miami Beach to stable from negative and affirmed the AA-minus rating on the city’s resort tax revenue bonds.

By dampening corporate interest in tax incentives, the new global minimum tax would hurt low-income housing and drive up issuer borrowing costs, a group of 29 organizations said in the letter to Yellen.

Hawkish Fed comments caused UST yields to rise by as much as 17 basis points, just as munis had caught a bid. The new-issue market fared well in digesting large deals amid the volatility.

Photos from The Bond Buyer's 2022 Texas Public Finance conference.

The Securities and Exchange Commission has sustained the Financial Industry Regulatory Authority’s disciplinary action against J.W. Korth & Company.

Despite speakers' objections over the cost of the project or the need for more restorative justice measures instead of incarceration, all three commissioners voted in favor of the referendum.

The public agency that owns and operates Chicago's convention center says operating revenues and tax collections are doing better than forecast in the fiscal 2022 budget but lag pre-pandemic levels.

The $10 billion bill taps five buckets of ARPA funds, including $877 million allocated for local governments.

The Marijuana Opportunity Reinvestment and Expungement bill,if passed, could wipe out some hesitations for issuers hoping to finance their own marijuana facilities.

SIFMA CEO Ken Bentsen and Head of Municipals Leslie Norwood discuss developments at the organization, the legislative outlook, and regulatory developments related to ESG. Kyle Glazier hosts. (28 minutes)

Municipals have taken a hit in the first months of 2022, but higher yield levels and cheaper ratios have offered possibilities for both retail and institutional buyers, analysts say.

Montebello Unified priced a $12.2 million tax-exempt refunding, but didn't execute a planned taxable tranche.

The twice-annual call for unsolicited proposals is part of what the state dubs one of the most ambitious P3 transportation programs in the country.

The $600 million deal is the authority's first 100% green transaction and it is also the first ever with bonds backed solely by revenue earned from specific transmission projects instead of the authority's general credit.

Firms remain uncertain about how state laws that apply litmus tests for banks and others seeking contracts with governmental entities impact them.