Capital markets

Moody's affirmed the state's general obligation bonds at Aa3, and credited it with significant long-term progress in restoring financial reserves and liquidity.

The rating agency called the commonwealth's proposed rainy day fund withdrawal moderate.

Illinois Gov. J.B. Pritzker's budget proposal, rosier revenue estimates and the prospects of more federal aid are only short-term salve for the state's long-term fiscal strains.

Federal Highway Administration officials have told the mass transit agency they would fast-track an environmental review process.

The governor has formed an Office of Climate Action and the Green Economy, while committing $100 million for clean-energy initiatives that include vehicle electrification.

Fitch Ratings warns that mounting challenges posed by ratepayers of Missouri's Howard Bend Levee District put its 2005 bonds at greater default risk.

The firm's leaders say Hilltop Securities sees growth opportunity in municipal bond underwriting, while financial advisory services will "grow selectively."

Uncertainties include state and federal aid levels, the effects of vaccine distribution and the MTA's finances.

The California School Finance Authority has received 148 applications from districts and charter schools seeking to borrow almost $1.4 billion.

The philanthropic arm of Siebert Williams Shank & Co. announced donations to support Howard University and Spelman College.

A Pioneer Institute report cited “a persistent trend” of high-income earners leaving high-tax states for low-tax ones.

The fintech world is expanding at a sometimes breathtaking pace. Much of that growth is driven by venture capital, but how do VCs decide which companies to invest it in--or not? Join Greycroft partner Will Szczerbiak in a discussion with Olugbenga Agboola, the founder and CEO of Flutterwave, the San Francisco-based startup building the largest payments infrastructure in Africa. Guest host James Ledbetter, editor and publisher of the fintech newsletter FIN, will explore these questions: What are VCs looking for in a fintech startup? What are the hottest fintech sectors in 2021? How has the rise in fintech valuations affected the market? Where will growth be strongest in the next few years?

The Foothill-Eastern toll road authority in California made a tender offer ahead of a planned sale, and exchanged the bulk of the debt it wanted to refund.

Rising state-supported debt and sidestepping best practices alarm the comptroller.

The rating agency placed 637 of the roughly 3,400 school districts it rates on review for upgrade or downgrade, and upgraded 85.

The negative outlook reflects the challenge of rebalancing the district’s budget in the face of pandemic-related reopening costs.

The bistate agency intends to fund a build-in-place Manhattan terminal with capital funds, air rights, PILOT payments and federal backing.

S&P Global Ratings raised Detroit's outlook to stable from negative on a BB-minus rating; Moody's affirmed the city at Ba3 with a positive outlook.

While federal funds enabled the transit authority to sidestep fare hikes for now, it faces a raft of pandemic-related variables and state budget uncertainty.

The AI program is used to fill in gaps on deal-specific yield curves that cannot be built by observable trades and transactions, the firm says.