Capital markets

The city priced refunding bonds for Philadelphia Gas Works.

Moody's says the South Carolina Public Service Authority’s delay on rates is a credit negative.

A big drop-off in Texas and a decline in refundings took a bite out of the municipal bond business in the Southwest.

State officials say they won't permit unlimited short-term borrowing.

The state of Texas is riding into the market this week with the biggest short-term deal of the year.

The municipal market got off to a fast start in terms of issuance this year, picking up in January right where it left off from 2016’s record-setting totals. However, the pace of issuance has since slowed, leaving 2017 first-half volume lagging last year's levels.

Short-term note issuance rose less than 5% in the first half of 2017 as municipalities relies less on cash flow needs.

Although market conditions and a still relatively low interest rate environment continue to hamper the bond insurance industry, there continue to be encouraging signs including a slight uptick in the insurance penetration rate.

The $560 million deal is expected to sell later this month.

Primary municipal bond market volume is expected to drop to $4 billion in the coming week, as one gigantic note sale is expected to be larger than the entire bond calendar.

The governor's adjustment protects the state's neediest districts but hits others hard.

The region's slipping volume reflected a national trend.

Top-rated municipal bonds ended mixed on Thursday, traders said, as the last big deals of the week came to market.

Fitch Ratings said it has downgraded the ratings of the United States Virgin Islands and the USVI Public Finance Authority.

The channels to communicate with investors – things like investor websites - make it easy and cost effective even for small bond issuers to do so effectively.

Hazelden Betty Ford Foundation was dropped from the single A category by Moody’s Investors Service.

Moody’s projects more utility privatizations as local issuers look to cope with financial distress and sidestep maintenance and compliance costs.

Build America Mutual, after surviving a credit watch with its double-A rating intact, posted mixed results in the second quarter.

New Jersey’s Essex County neared the top of the bond rating charts 15 years after sitting in triple-B territory.

Primary municipal bond market volume is expected to increase to $6.7 billion.