Capital markets

S&P Global Ratings says Detroit's Local Development Finance Authority's collections haven't been enough to cover debt service payments on subordinate bonds issued in 1997.

Municipal bond issuance was not much changed from the start of 2018, marking the second year in a row volume got off to a slow start.

The Hawaii finance team doesn’t expect the market’s volatility to hamper buyer interest.

Improved financial conditions bolstered by additional state aid drove cash-strapped Jamestown, New York back to investment grade following years of budget deficits.

Moody's dropped to Caa3 a pool of pension obligation bonds likely to be dragged down by wildfire damage to Paradise, California.

The firm tapped veteran Phong Pham to head the new office in the western part of the state.

The seat of Niagara County was raised to A3 by Moody's Investors Service.

York County, fresh off the Moody's upgrade, competitively prices the first of two general obligation bond issues Thursday.

A trader said lack of follow-through on long new issues continued to plague the market as the weekly calendar shrank to $5B of issuance.

Hilltop Securities, the Southwest region's top financial advisor, is hiring and restructuring management two years after a difficult merger with Southwest Securities.

They include the return of Sarah Sanders as assistant treasurer for debt management, a position she held from 2007 to 2017.

Completion of a replacement Tappan Zee Bridge with debt levels kept in check triggered upgrades to New York State Thruway Authority bonds.

Municipal bond underwriters suffered from muted issuance under the new tax laws, as Bank of America Merrill Lynch remained on top of the year-end rankings.

Market veteran Horace Carter will co-head Raymond James’ fixed income capital markets division along with Kevin Giddis.

Jersey City's legal settlements with two major entities are a credit positive, according to Moody's Investors Service.

Issuance in Texas during 2018 was down 23% from 2017, reflecting a national slump that followed federal tax law changes that ended advance refundings.

Tim Schaefer will remain California's deputy director of public finance under Fiona Ma.

Guam made spending cuts and raised taxes to offset losses created by federal tax law changes passed in late 2017.

In the week ended Jan. 10, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, inched up to 4.08% from 4.07% last week.

The public accounting and advisory firm moves into the municipal advisor space by combining with Springsted, Inc. and Umbaugh and Associates.