Capital markets

A steep decline in school district reserves drove a two-notch downgrade and has drawn a subpoena from the Securities and Exchange Commission.

Morgan Stanley is cutting about 1,500 jobs globally, including several managing directors.

The state's public pension funds will divest holdings in civilian firearms manufacturing companies and prohibit future investments, Shawn Wooden says.

The county's recovery plan improved its structural balance and long-term liability profile, Fitch Ratings said in support of its two-notch rating boost.

San Francisco PUC's water revenue bond ratings were boosted to Aa2 ahead of sale.

Rating agencies affirmed Chicago's GOratings and the first report also out on the new junior lien Sales Tax Securitization Corp. credit.

Chicago Public Schools long climb back to investment grade continues

The Bay State's transportation and congestion crisis puts its economic viability in jeopardy, officials say.

He will join Shawn Wooden's staff in Dec. 16 and brings 25 years of financial and management experience in the public and private sectors.

The Metropolitan Pier and Exposition Authority, restored to investment grade by S&P Global Ratings last year, plans to sell a total of $923 million.

Preston Hollow is fighting Nuveen's attempt to reopen a trial record in the private lender's lawsuit accusing the investment powerhouse of anti-competitive tactics.

A successful closing on the unrated deal was needed to make payments on short-term notes due on Dec. 31.

The municipal market will get a pause from the breakneck issuance, as things will slow down for Thanksgiving but should pick up right where they left off the first week of December.

The upgrade reflects the city's improved operating environment and structural financial improvement, the rating agency said.

The deal, issued through the California Housing Finance Agency, is the first multifamily tax-exempt deal to qualify for the GSE's Green Rewards program.

Richard Taormina, head of Tax Aware Strategies at JPMorgan Asset Management, talks about the value of municipal bonds and focuses on performance, foreign demand and the effect of the tax reform legislation on the market. Chip Barnett hosts this podcast, which was recorded in early October.

The Finance Committee signed off on bond refinancing and revenue packages that are key to the 2020 budget, paving the way for a full city council vote.

Moody's Investors Service raised the outlook to positive from stable on Palomar Health's junk-rated revenue bonds and investment grade general obligation debt.

The action brings the state's issuer rating to Aa1, as well as upgrades to $1.5 billion in debt that is linked to the issuer rating.

Over the past three years, TD Securities has expanded its New York City-based team of public finance and sales and trading professionals.