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The restructuring is on track to occur March 15, officials said.

Daily report for March 03, 2022

The 18-member group will be headed by Eric Scroggins, co-head of debt advisory and restructuring, and Bill Reisner, head of public finance investment banking.

The Investment Company Institute on Wednesday reported $2.637 billion of outflows in the week ending Feb. 23, down from $3.120 billion of outflows in the previous week.

Lawmakers on the House Financial Services Committee clashed over the stalled nominations of Federal Reserve Chairman Jerome Powell and four others Wednesday. It was a prelude to the fireworks that could occur Thursday when Powell is scheduled to testify before the Senate Banking Committee.

Moody's said the upgrade reflects continuing strong revenue and liquidity trends, completion of a debt-reduction program and increased pension contributions.

A judge has set a March 23 hearing on the Atoka County Healthcare Authority’s disclosure statement for its plan to end a five-year-long bankruptcy.

A federal memo on IIJA dollars outlines Biden administration priorities but doesn’t tie states’ hands when it comes to funding, the transportation secretary said.

A report from CreditSights says risks will increase for coastal issuers of municipal bonds with increased flooding at high tides and during storms.

In a Bond Buyer survey, 57% of participants believe issuance will be less than $475 billion. Additionally, 47% said ESG would have the greatest impact on the public finance industry in 2022.

The Connecticut treasurer also extolled "baby bonds" as a way to improve “racial equity,” narrow the state's gap between rich and poor, and promote economic growth.

The president touted the benefits of last year's Bipartisan Infrastructure Law and American Rescue Plan Act during his first State of the Union address.

Daily report for March 02, 2022

The Russian invasion of Ukraine could slow interest rate hikes and has led the market to pull back on the chances of a 50-basis-point liftoff.

States have appropriated 72% of the ARPA funds they have received so far and many state legislatures are developing plans to spend the rest.

Minnesota's February forecast adds $1.5 billion to the $7.7 billion forecast just a few months ago.

Income taxes — despite losses due to remote work — and internet gambling revenue are on the rise, giving the Motor City's general fund a boost.

Recent federal laws have provided municipalities with record levels of funding, but may only have a marginal increase in the number of issuances.

Sponsors of the Supporting American with Lower Taxes Act see it as a potential compromise on the contentious state and local tax deduction cap issue.

“I want to break ground next year,” Kentucky Gov. Andy Beshear said.