Capital markets

Chicago is accepting underwriter qualifications as it updates its investment banking pool; it also delayed the bidding deadline for potential casino developers.

The forthcoming Texas law bans businesses from state contracts if their policies are said to discriminate against the firearms industry.

Kyle Hemminger joined Cain Brothers this month in Columbus, Ohio.

Economic growth after the pandemic and maintaining structural balance and reserves will influence whether Fitch ultimately lifts the state to AAA from AA-plus.

The city has issued a second set of bonds to fund 266 housing units that are the first of some 8,000 planned on adjoining islands in the San Francisco Bay.

Better funding levels prompted S&P Global Ratings to revise the outlook on the state's BBB-plus GO bond rating to positive from stable.

Pitfalls loom despite improved bond ratings and an improving fiscal picture, according to members of the state's fiscal control board.

Illinois' single-employer pension plans are straining the budgets and ratings of those local governments without the tax base, flexiblity, and fiscal discipline to tackle rising costs, S&P says in a special report.

Federal relief and rising revenues drew a change in outlook from Moody's to stable from negative, but Moody's remains the only agency to rate Chicago at junk.

The rating agencies affirmed two AA-plus and one triple-A rating ahead of the deal.

The New Jersey Educational Facilities Authority and the Ivy League university named Ramirez Asset Management, in their first collaboration with an MWBE firm.

“There’s been a lot of discussion about New York City and its future in the public domain. And when that happens it makes sense to solicit multiple opinions,” said Kroll Senior Managing Director Karen Daly.

A brightening revenue and liquidity picture and improved fiscal governance and management were cited as Moody's assigned a positive outlook.

The two issuers that defaulted suffered from pre-existing conditions, according to Moody's analysts.

The Metropolitan Pier and Exposition Authority and the Illinois Sports Facilities Authority are heading into the bond market, buoyed by state rating upgrades.

Alan Rubin, principal, Blank Rome Government Relations

The public transit agenices are benefitting from sales taxes that fared better than expected through the pandemic and the state's stronger fiscal footing

Moody's Investors Service upgraded the county — home to Detroit — A3 from Baa1 while also elevating its rating outlook to positive.

S&P followed Moody's in raising Illinois' general obligation rating, moving it to BBB as the state's fiscal picture brightens.

The Fitch Ratings upgrade applies only to GO debt — the city's issuer default rating remains AA-plus. The GOs benefit from California’s 2016 statutory lien law.