Capital markets

After the University of Idaho canceled plans to buy the for-profit online University of Phoenix, Moody's Ratings removed the school from watch for downgrade.

The twin Transportation Corridor Agencies issuers in Orange County, California, received Fitch Ratings upgrades for fiscal prudence and bond buydowns.

Primary bond market volume was up 3.6% year-over-year to $49.9 billion, according to LSEG data.

Chicago goes to market next week with $517.95 million of taxable and tax-exempt general obligation bonds following a downward outlook revision from Fitch.

This episode takes us inside The Bond Buyer's recent Southeast Public Finance Conference, where airport finance leaders from Orlando and Tampa discussed shifting passenger trends, modular capital planning, federal grant concerns, and why long-term growth still looks strong.

The rating agency cited concerns about limited unrestricted reserves for lowering its rating outlook for more than $1 billion of debt.

Maryland is preparing for upcoming bond sales as the state treasurer responds to a Moody's downgrade by suggesting the state part ways with the rating agency.

Issuers routinely refund 5% bonds in year 10, and the resulting savings can be significant. It is notable that although refunding is typically associated with declining interest rates, 5% bonds are refunded even if rates rise.

Samantha Funk will step up as new head of public finance at PNC after Rob Dailey retires at the end of July.

Rising debt and interest payment ratios over more than a decade, to levels higher than other nations', prompted the downgrade, Moody's said.