News and Information from Bond Buyer

Gov. Jim Justice said strong revenue collections during fiscal 2021, amid the pandemic, left the state with with a $413 million surplus.

Joseph Krist, publisher of Muni Credit News, explores state budgets, federal aid, climate change and cybersecurity. Paul Burton hosts. (34 minutes)

The Oversight Board filed a suit against a new law that contradicts certain provisions in the plan of adjustment. Gov. Pierluisi says the litigation is not necessary.

Fitch affirmed $14.3 billion of annual appropriation-backed debt at AA-plus in addition to the $1.1 billion of AAA-rated general obligation bonds.

With better-than-expected payrolls, economists still caution full recovery is a ways away. Muni participants are closely following how the Fed's action — or inaction — will affect the municipal market going forward.

Voters in Texas' most populous county approved the flood control bonds after the devastation of Hurricane Harvey, but matching funds have been slow to arrive.

The Bureau of Ocean Energy Management will initiate an environmental review for Virginia's large-scale commercial offshore wind project.

The AA-rated port experienced its busiest month yet for container traffic in May.

The broader market awaits Friday’s nonfarm payrolls report, but Thursday brought some helpful labor news — unemployment claims dropped to the lowest since before the pandemic-caused economic shutdowns and layoffs plunged in June.

Michigan's fiscal recovery led S&P Global Ratings to lift its rating outlook to stable from negative. Fitch boosted its outlook to positive earlier this month.

The $10.1 billion General Fund focuses on operational improvements, Medicaid reform, and enhancing tax compliance.

Ridership displacement, remote work and online shopping amplify pre-pandemic challenges such as large capital plans.

S&P Global Ratings gave California an elevated risk in the environmental category on an ESG scorecard, partly because of wildfire risks.

By contrast to the circus surrounding the Board of Elections, the City Council quickly passed a record $98.7 billion spending plan drama-free.

Board says all the objections to disclosure statements are without legal merit or should be addressed at the plan of adjustment confirmation.

Gilt-edged munis fell as much as two basis points Wednesday as the month ended and the first half stats were put into the record books.

Locke Lord's Texas public finance team continues to expand with the addition of Arnold Cantu from Norton Rose Fulbright.

The team from Bank of New York Mellon will notably expand Ice Miller's arbitrage rebate compliance practice as a component of its public finance services.

The Board of Elections acknowledged a major error in Tuesday's update. Outgoing Mayor Bill de Blasio and the City Council, meanwhile, are finalizing a $98.7 billion FY22 budget.

While June was lower than 2020 in par, pandemic-related factors skewed last year's issuance totals, making the $42 billion issued this month high on a historical basis. Outside factors, such as federal aid and potential infrastructure plans, may affect issuance going forward.