Capital markets

Market Intelligence analyst Jeff Lipton maps where credit remains stable and where caution is warranted in his mid-year scorecard, flagging pressure points in higher education, K-12, tobacco and parts of local government while outlining the structural strengths supporting states, airports and other essential-service sectors.

Local governments will face "greater credit pressure" if voters largely eliminate property taxes on more than half of homes in the state, S&P analysts said.

"My 10 years at Academy Securities building out the municipal platform while mentoring military veterans has been the highlight of my career," Kolman said.

Market Intelligence analyst Jeff Lipton recaps May's muni outperformance versus Treasuries and broad fixed income, highlighting how carry, reinvestment demand and spread compression drove strong returns and helped A3 and Baa credits lead the market.

The revenue bonds would continue financing for a 15-year, $8.2 billion program to widen existing toll roads and build new ones.

S&P lifted Graham's general obligation bond and certificates of obligation rating to A from BBB due to the city's earlier-than-projected financial turnaround.

Moody's Ratings has announced a credit rating downgrade to A2 from A1 for AU, due to operating pressure which comes on the heels of a 4% tuition hike earlier this spring.

The rating agency cited improving financial metrics and the port's importance to the regional economy.

Water supply woes continue to weigh on the Texas city's bond ratings, which have been hit with multi-notch downgrades and negative outlooks.

Maryland drops Moodys a year after the ratings agency downgraded its credit as the state preps for a major bond sale this week.

Research from The Bond Buyer finds that political will is the strongest impediment or asset to the growth of P3 activity across the U.S.

Saint Francis University in Pennsylvania, also grappling with the stresses facing many smaller schools, downscaled its sports program to NCAA Division III.

June redemptions are $44.4 billion. July and August will see $37.7 billion and $38.4 billion returned, respectively, said Pat Luby, head of municipal strategy at CreditSights.

Municipal finance professionals surveyed by The Bond Buyer said unrealistic revenue projections were the top driver of problems for public-private partnership deals.

Huntington Securities has hired Shai Markowicz, a veteran of Citi and Morgan Stanley, as managing director and head of project finance.

New data from The Bond Buyer finds more than half of respondents agreed that private sector partners stand to benefit the most from the increased use of P3s.

Research from The Bond Buyer finds a majority of muni pros predict public-private partnership volume to moderately increase over the next few years.

S&P put some Iowa school district issues' priority-lien ratings on CreditWatch with negative implications after the General Assembly passed property tax reform.

Market Intelligence analyst Jeff Lipton explains why proposals targeting wealth, property, and income taxes matter for municipal credit, and outlines what investors should watch in revenue replacement capacity, reserves, political willingness, and legal security structures.

New research from The Bond Buyer finds reductions in federal funding stand to drastically impact healthcare, local/state governments and other sectors.