Capital markets

The Evanston, Illinois-based university will offer $300 million of taxable debt as soon as Wednesday after losing its gilt-edged rating status.

New Mexico is expected to face sizable structural deficits because of declining oil and gas prices and production, the rating agency said.

The offering of special tax obligation bonds comes as the state begins a four-phase reopening in its next response to the coronavirus.

Investors scooped up Illinois’ $800 million deal as the state dug deep into its pockets .

Fitch Ratings downgraded Las Vegas a notch to AA-minus

Moody's revised its outlook on the Chicago Transit Authority and Regional Transportation Authority to negative as COVID-19 threatens their revenue streams.

Bringing bond denominations down to $1,000 would capture goodwill from New York residents and transit riders, said Mitchell Moss of New York University.

Cheng, a six-year veteran of the rating agency, will be a senior vice president of Citi's Institutional Clients Group.

Chicago’s motor fuel bonds, the city’s park district, and Cook County suffered rating or outlook cuts this week.

S&P revised its outlook on Detroit's speculative grade rating to negative from stable Thursday as COVID-19 clouds the city's fiscal prospects.

The mass transit authority cannot tap the Municipal Liquidity Facility directly, chief financial officer Robert Foran said.

According to the survey that Tom Kozlik prepared, more than 90% of 211 analysts and specialists found coronavirus the most compelling issue facing the public finance industry. Public pensions ranked second.

S&P Global Ratings changed its outlook on Chicago's BBB-plus rating to negative citing financial strains caused by the pandemic.

Issuers bringing taxable deals this week should see robust buying interest as the strong performance of the corporate market has pushed yields down, making double-A taxable municipal bond yields attractive for corporate investors in the 21% tax bracket.

Fitch Ratings lowered its outlook on Hawaii's AA-plus rating to negative from stable, following a similar action by Moody's earlier this month.

S&P Global Ratings analysts say bookings that are two to three years out are already being canceled.

Debt restructuring options as the transit agency navigates through the coronavirus crisis include refundings for savings or to push out debt, according to Robert Foran.

The March losses underscore the fiscal strains for hospitals but many facilities are expected soon to resume elective surgeries and diagnostic procedures.

"This is undoubtedly the toughest time in MTA history," said Patrick Foye, who has asked Congress to double its $3.8 billion relief package.

The rating agency delivered the latest coronavirus-related hit to the city's ratings by cutting its outlook. The city's GO bonds were affirmed at AA.