Bond ratings

The strength of the California economy suggests it deserves higher ratings, CreditSights said, but slowing revenues could mean the state's credit has peaked.

The upgrade reflects the city's improving pension funding practices, commitment to a sound reserve position and ability to institute structural budget measures, Fitch said.

Texas gave S&P until Oct. 13 to produce documents detailing its development and use of ESG factors in public finance ratings.

The rating agency cited progress on long-term fiscal stability and budgeting in its decision.

Fitch said the upgrade reflects lessened risk "as Vogtle Units 3 and 4 approach their scheduled commercial operation dates in 2023."

After thirty years at the Commission, Lori Price will begin as director for the Office of Credit Ratings Aug. 14

New Jersey and Illinois have the lowest state bond ratings. But all three states have been ramping up pension contributions, according to S&P Global Ratings.

A rating upgrade by Moody's Investors Service means Minnesota has triple-A ratings from three major rating agencies.

MMA revised down its credit outlook for several sectors noting that looming credit trouble in the second half of the year may underpin a bleak credit and operating situation for certain issuers.

The Miami metro area saw the most private-sector job growth among all metro areas in the state in June and year-over-year.

Inflationary-driven challenges pose a drag on hospitals’ fiscal recovery from the pandemic with short-, mid-, and long-term action needed.

Fitch Ratings said the upgrade reflects the city's improved operating performance due to a robust tax revenue rebound and management's proactive budgetary actions.

S&P Global Ratings says that without funding reform, New Jersey's pension system may continue to negatively impact the state's credit outlook for decades.

The airport benefits from growing population “that skew[s] young and wealthy,” the rating agency said.

The acquisition of Cancer Treatment Centers of America in February was cited for the downgrade along with City of Hope's financial weakness over the past two years.

Moody’s Investors Service raised the city's rating, noting noted a trend of strong finances, a diverse economy and a willingness to tackle pension issues.

Governance is the single most important ESG factor in public finance ratings, given the impact of governance structure, Fitch said.

Audit times for municipal bond issuers are on the rise, with the median reaching 164 days in 2020 compared with 147 in 2009.

Michael Rinaldi, head of local government ratings at Fitch, talks with Chip Barnett about the murky financial picture after the move by Gov. Ron DeSantis to dissolve the Reedy Creek Improvement District after Disney Co. said it plans to fight to repeal the new “Don’t Say Gay” law. (12 minutes)

While the outlook revision reflects the view there is a one-in-three chance RCID's credit profile could be positively or negatively impacted, future events remain unclear, said S&P's Christian Richards.