Capital markets

Labor costs that continue to squeeze operating margins remain the biggest obstacle for the nonprofit healthcare sector.

Three districts are under Washington's state fiscal oversight and the largest, Marysville School District, took a multi-notch Moody's bond rating downgrade.

North Las Vegas was upgraded to A-minus from BBB-plus by Fitch Ratings, which kept its positive outlook.

Medford, Oregon-based Asante Health enters 2024 with negative outlooks from Fitch and S&P as it works to complete expansion projects amid industry headwinds.

Some general fund spending will be shifted to bonds to help the state meet priorities like housing and healthcare, Hawaii Gov. Josh Green announced.

Fitch Ratings upgraded the Riverside County Interstate 15 managed lane project two notches, affecting $152.2 million in debt.

The $68 billion deficit reported for California's budget is an eye-opening figure but the revenue trends are less dramatic when viewed over multiple years.

A hotel tax that supports the authority's bonds has recovered strongly from the pandemic, the rating agency said.

The rebound in the cruise industry, which has now more than recovered all the ground it lost during the pandemic, lifted the Canaveral Port Authority's rating.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.

"Higher education is going to be facing continued challenges in the near term," said Tom Kozlik, managing director at Hilltop Securities.

A new deal with Microsoft may help fill the void left by the underperformance of a Wisconsin incentive deal to lure Foxconn to the village of Mount Pleasant.

The City Colleges of Chicago is planning to issue $201 million in unlimited tax GO refunding bonds, bolstered by an upgrade and a new positive rating outlook.

Moody's Investors Service revised its outlook to positive from stable and affirmed its Aa1 issuer and general obligation unlimited tax bond ratings on the city.

Moody's, which last rated the state triple-A in 1979, pointed to an economy that's "poised for diversification and growth."

Anne Marie Pippin, associate director in the Federal Housing Finance Agency's Office of Financial Technology, weighs the forces shaping the industry's future.

The outlook revision from negative comes as the school system prepares to tap more of its record $2.44 billion of voter-approved bond authorization next year.

The city has made some important progress on the expenditure side, but the new mayor's first budget didn't make similar strides on revenues, according to Fitch.

Final responses are due by Dec. 8 from muni underwriters who want to be on Wisconsin sale syndicates.

The Bay Area Rapid Transit was highlighted in the report on agencies still struggling.