Capital markets

S&P Global Ratings primarily cited a "precipitous decline" in unrestricted cash to explain its triple-notch downgrade of the system.

The $2.5 billion Brightline West and $849 million Hawaii deals stood out among the rash of issuances last month alongside the ongoing tax exemption debate.

The rating agency cited the state's ample reserves, robust natural resource base and critical role in U.S. strategic interests.

White Lake Township, Michigan, is facing legal action on two fronts: one of them related to the hack of its bond deal closing last year, the other a civil suit. 

Senior Vice President Tamika Reed will staff a new Montgomery, Alabama, office, and Vice President Narineh Panosian joins the firm in Los Angeles.

Women in Public Finance has announced the 2025 members of its board of directors and plans to expand its offerings as it nears its 30th anniversary.

Sweetwater Union High's rocket-fast transformation from an accounting practices bad apple to ratings upgrades and positive outlooks is expected to boost its bond program.

A Moody's Ratings upgrade means Hawaii DOT's airport division is headed to market with across-the-board double-A ratings.

The San Joaquin Hills Transportation Corridor Agency tapped reserves to make early bond payments saving $203 million. It's parent agency, the Transportation Corridor Agencies, hopes to save $1.79 billion with additional early pay downs by 2030.

Analysts Chris Collins and Melissa Nicandri were among the 64 passengers and crew aboard American Airlines flight 5342.

Two public electric utilities in Los Angeles County received negative outlooks from S&P citing costs, liabilities, and litigation stemming from wildfires.

The Massachusetts Clean Water Trust has seen higher demand from local utilities for loans because of climate change threats and clean water regulations. 

Kroll Bond Rating Agency downgraded Chicago's general obligation bonds to A-minus from A, citing high fixed costs and one-time fixes. The outlook is negative.

Broker-dealer Siebert Williams Shank's foundation donated $100,000 to two organizations aiding Los Angeles-area residents affected by the wildfires.

The Los Angeles-area wildfires have sparked a negative rating watch for several credits from Fitch Ratings.

With losses expected to be measured in the tens or hundreds of billions, the municipal finance industry begins to take stock of the Los Angeles-area wildfires.

The bonds — $824.8 million tax-exempt and $400 million taxable — follow Orlando Health's major acquisitions of hospitals in Alabama and Florida.

S&P Global Ratings downgraded Chicago's general obligation debt to BBB from BBB-plus, saying the 2025 budget fails to address a structural imbalance.

Trading in Los Angeles credits has become more volatile. An L.A. Department of Water and Power deal slated for Wednesday went day-to-day.

Williams, a former salesman and founder of A. H. Williams & Co., became a "giant" in the Pennsylvania muni world through relationships built on trust.