Capital markets

Fitch said its upgrade "reflects the removal of the asymmetric additional risk relating to potential general fund exposure to the county's enterprise sewer system … which reflects the system's recent restructuring of its outstanding debt."

David Brownstein, who helped Jefferson County, Alabama, and Detroit return to market after bankruptcy, has opened a new firm that is advising the Oversight Board on its plan of adjustment for PREPA.

Oklahoma is on a roll, notching its third positive rating outlook since July with the latest move coming from Fitch Ratings.

"Jason has a proven record as an outstanding leader who brings clarity, decisiveness and expertise to his role with our Fixed Income Capital Markets division," said HilltopSecurities CEO Brad Winges.

Some participants on the Street estimate that SMAs hold as much as $1.5 trillion of munis while others peg it closer to $1 trillion to $1.3 trillion.

Chad Wildman, executive director, Quantitative Strategies at FMSbonds, and Matthew Smith, founder and CEO of Spline Data, discuss how automation has repositioned the muni market and where participants can find value by using technology tools. Lynne Funk hosts. (45 minutes)

The top three co-managers have an average dollar volume of more than $11.7 billion as of the end of December 2023.

Higher interest rates, inflation and slower economic growth could create headwinds for the U.S. public finance sector, S&P Global Ratings said.

The city is looking for "a diverse group of qualified firms with varied strengths and market advantages" to "provide the most cost-effective distribution."

Moody's Investors Service cited thinning operating performance for the downward outlook revision.

Interest rates and federal elections hang heavy over the industry and municipal analysts believe certain muni sectors or subsectors will experience credit deterioration.

Inflation and mandate pressures are key factors that moved the outlook lower.

Moody's Investors Service bumped Chicago's outlook to positive from stable, while affirming the city's Baa3 issuer and general obligation bond ratings.

Katz is well known for guiding operational improvement and expense control in the financial services sector, his new employer said.

Altadena, California-based Episcopal Communities & Services for Seniors was able to sell bonds through a treasurer's conduit thanks to the new state law.

Hilltop plans to hire others over the next 12 to 18 months.

S&P's outlook revision to positive means there is a one-in-three chance the state could have its AA-plus rating upgraded to AAA over the next two years.

The Chicago Board of Education on Wednesday saw its issuer rating and debt ratings from Moody's Investors Service elevated a notch to Ba1 from Ba2.

The agency plans to broaden its current market share and expand into new sectors.

The state of Illinois is preparing to issue $600 million in new Build Illinois junior sales tax revenue bonds next week.