Climate change

The drought-stricken Texas city's utility system rating was cut two notches to A, marking a continued downward trend in its credit quality.

Fitch, Moody's, and S&P were sent a letter from 23 GOP state attorneys general over the use of ESG factors related to fossil fuel in negative rating actions.

While the state is most concerned about stopping the fires, credit rating agencies are monitoring the situation.

Researchers examined more than 580,000 municipal bond issues and say the data shows communities with higher wildfire risk pay higher interest rates.

The Texas city's latest projection for the onset of a Level 1 emergency comes as water woes spurred rating downgrades and negative outlooks since last fall.

The rating agency's previous review of the Texas city resulted in downgrades in December over increased credit risk due to water supply woes.

The Texas city is facing a potential level 1 emergency, indicating the water system is 180 days from supply not meeting demand.

Upper and Lower Basin states are at odds over post-2026 operations for the drought-stricken river, raising litigation risks and highlighting credit uncertainty.

FEMA must speed its very slow disbursement of aid, many observers say.

Eleven states and dozens of local governments have active lawsuits against fossil fuel companies.

Lawsuits against the Los Angeles Department of Water and Power over wildfire liability crystalize the need for state governments to take the lead, said MMA's Matt Fabian.

Fitch Ratings released a draft of climate vulnerability in rating criteria for public finance issuers that earned a thumbs-up from Municipal Market Analytics.

The precedent and, if there were to be an appeals court affirmation, would have a greater impact on Louisiana than Florida, the attorneys said.

Bonding should increase in the next few years to address aged state and local infrastructure, Moody's Vice President Dan Seymour said.

The changing climate is increasing insurance rates for residents and cities and lowering property values in areas that face more frequent and intense disasters.

As climate and cybersecurity risks intensify, Jeff Lipton argues it's time for the legal community to lead a new era of municipal disclosure — tightening language, clarifying exposures, and ensuring investor confidence.

Federal Reserve Gov. Stephen Miran said Thursday that the central bank's forays into examining climate change and racial justice under the prior administration politicized the Fed. He also argued that Fed officials should limit their comments on economic policies such as tariffs.

The nearly-complete offshore wind power generation project can resume construction while it fights a stop-work order from the Trump administration.

Lawmakers passed California Gov. Gavin Newsom's expansive energy package, including a bill to extend the state's cap-and-invest program.

California's governor and legislative leaders agreed to extend the state's cap-and-trade program and dedicate one-fourth of the funding to high-speed rail.