Capital markets

The Lombard, Ill. Public Facilities Corp. is seeking to restructure its $190 million of now defaulted debt.

Municipal bond volume ended the month of July down 20% as refundings plummeted.

Primary municipal bond market volume is set to rebound to a more normal level in the coming week, bringing traders a variety of offerings.

The rating agency said it doesn’t expect the budget to directly result in any local government rating changes, though school districts remain vulnerable to a possible impasse over funding.

The MTA's debt-service backstop mitigates risk, the rating agency says.

Four of Illinois’ junk-rated public universities won an upgrade from S&P Global Ratings.

Moody's cited a vote to raise employer contribution rates.

Illinois bonds saw a slight price bump in reaction to Moody's confirmation of the state's Baa3 rating.

The drop in issuance comes despite a decline in yields over the past week that made the market issuer-friendly.

Assured Guaranty and Orrick, Herrington & Sutcliffe LLP expanded their business even as muni volume shrank amid political uncertainty.

Moody's Investors Service cited underperforming revenues and low pension funding levels.

The state still needs revenues and cuts to balance its spending plan.

Moody's says the legislation will be credit positive for school districts and the state.

The affirmation at Baa3 removed the threat Moody's would send Illinois to junk.

The rating agency cited state budget volatility that affects local government aid.

Bingham's 35-year muni career includes US Bancorp, Société Générale and Wachovia.

S&P dropped Alaska to AA amid dwindling budget reserves.

A decreased reliance on bonds to finance capital investments has created a need for more municipal market research tools, experts said.

State government April income tax revenue fell 4%, in what may be an early sign of the "Trump Effect" on taxpayer behavior.

Fitch took Illinois off negative watch, while keeping a negative outlook on its BBB rating.