Capital markets

UBS' move this week to cut some banking positions marked a reversal of its five-year growth trend as the bank rebooted its municipal underwriting business.

While the legislation heading to Gov. J.B. Pritzker's desk will not affect CPS' rating in the short-term, the district's ability to manage labor conflict could affect credit quality over time, Fitch said.

Moody's downgraded St. Mary's College of California to Baa3 with a negative outlook, affecting $53 million in debt issued through the California

The action affects about $312 million of debt. The outlook, previously positive, is stable at the new, higher rating.

The firm is expected to announce the new muni leadership team next week.

Jim Stricklin has joined the team of advisors at Columbia Capital Management.

California's state water board asked IBank to issue $650 million in water revenue bonds.

Arizona's second-largest city reported general fund surpluses in recent years, easing structural budget balance concerns that weighed on its ratings, Fitch said.

S&P Global Ratings raised the state flagship university's rating to AA-minus from A-plus.

Moody's dropped Sparrow Health's rating a notch as it's not yet factoring in the financial and operational benefits of its acquisition by UM Health, which won't extent to a debt guarantee.

Moody's downgraded $651 million of Main Line Health Services revenue bond debt to A1 from Aa3.

Hospital fiscal wounds have mounted this year and the balance sheet damage is expected to extend into 2023 as labor pressures show little sign of easing.

The Missouri-based firms say they will boost client relationships and expand capabilities with the pending merger, which will retain the L.J. Hart & Co. brand.

The downgrades for Alaska's largest city come less than two months after the mayor set returning the city's ratings to AAA as a goal in his fiscal 2023 budget.

Municipal underwriting fixture, Jaime Durando, announced his retirement from the industry after more than 30 years.

Enrollment and inflation-adjusted net tuition trends are negative.

Fitch and S&P downgraded the city as it grapples with rising costs, limited revenue prospects and a looming pension funding spike.

Investment bank expands with three former Citigroup muni veterans at the helm.

The upgrades follow Fitch's upgrade of Morgan Stanley, the guarantor to the gas supplier in all of the transactions.

Fitch Ratings revised its outlook to stable from negative on BATA's AA-minus subordinate debt, retaining its stable outlook on AA-rated senior debt.