Bond ratings

 A default under the concession agreement could result in termination of the project, according to an analyst.

The Texas city plans to bring general obligation bonds, certificates of obligation and tax notes to market later this month.

The Texas city's general obligation rating was lifted to Aa2 with a stable outlook from Aa3 based on "meaningful" moves taken in its fiscal 2027 budget.

"The upgrade also reflects the city's continued financial strength that has extended for decades and been preserved even during recessionary periods via prudent budget management," analysts said. 

Fitch Ratings raised the outlook on two series of sales tax revenue bonds structured as a TIFIA loan.

Fitch cited very strong revenue defensibility and the expectation the utility's finacial profile and performance will improve.

Washington using a pension fund surplus to close a budget shortfall sets a bad precedent, said a Morningstar DBRS analyst.

Leverage issues led to Fitch lowering the outlook on the AA-minus-rated bonds.

S&P said its earlier rating had its origin in an incorrect methodology.

The rating agency upgraded $1.2 billion of airport revenue bonds.

Fitch Ratings upgraded Cook County to AA-plus from AA on Monday, citing the county's moderating long-term liability burden and sustained resource base growth.

The city's issuer rating was raised a notch to Aaa and ratings for other debt, including for its water and wastewater utility system, were also upgraded.

S&P cited the county's limited flexibility to set its rates and escalating capital investment needs. 

The NJTA is planning to sell three series of revenue bonds Series 2026 A-1 ($570 million), Series 2026 A-2 ($150 million) and Series 2026B ($339.5 million), which received an A1 rating from Moody's. 

The rating agency confirmed the Texas city's A1 bond ratings, ending a review for potential downgrade spurred by an impending water supply crisis.

The outlook revision to stable from negative follows the city's adoption of a fiscal 2027 budget with structural changes that greatly reduced a shortfall.

The groups are taking additional steps to try to stop or pause development of a major industrial park between New Orleans and Baton Rouge.

"The upgrade recognizes two important factors: the strong operating performance of Vogtle Units 3 and 4 since entering commercial service and the strength of the project's contractual framework," said Ernest Libershteyn, MEAG director of finance and treasury.

The letter from officials in Democrat strongholds asked the rating agencies to maintain their focus on financial analytics in viewing energy-dependence, rather than being swayed by the political winds.

The rating agency gave the city a negative outlook in November 2024, following voter approval of a ballot measure requiring more public safety funding.