Downgrades

"I don't mind owning a railroad for $2.4 billion," said Assured CEO Dominic Frederico.

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

With enrollment and funding not keeping pace with rising costs, public education is feeling rating pressure at both the K-12 and higher education levels.

Moody's Ratings downgraded Northern Illinois University's issuer and revenue bond ratings to Ba1 from Baa3.

The risk of contagion to the rest of the high-yield market is limited, investors said.

The rating agency cited the city's sharply diminished liquidity and reserves.

Moody's said the $350 million of Series 2007 Class I bonds are on review for further downgrade.

The review, which included mostly Texas and Colorado bond issuers, comes as the amount of voter-approved debt authorized for districts is exploding.

Children's hospital achieves moderate to low-risk yield on junk-rated bonds boosted by insurer.

The parent of New York's Metropolitan Opera fell deeper into junk-bond status this week, while the New School university has a lower investment-grade rating.

The rating agency cited weak demand for the facilities.

Brightline asked S&P to withdraw its rating after the latest downgrade.

Moody's cited the district's narrowing financial position as its available fund balance sank to 4.8% of revenue in fiscal 2025.

KBRA and Fitch Ratings downgraded Chicago's general obligation bonds to BBB-plus from A-minus on Wednesday, and both kept their rating outlooks at negative.

The Texas city, which has been hit with negative rating actions over its water woes, signaled it will issue revenue bonds in its hunt for new supplies.

The downgrade reflects ongoing underperformance in ridership and revenues relative to Kroll's expectations.

The ratings agency revises the outlook to negative

Fitch's three-notch senior bond downgrade reflects "substantial credit risk."

Credit pressures are expected to persist for municipal bond issuers facing water scarcity and increasing costs for projects to produce new supply.

"The steps that would be necessary to restore a sound fiscal profile are becoming increasingly drastic," the rating agency said in downgrading Jersey City.