Economy

Nonprofit assisted living and nursing home bonds continue to be under stress, with defaults and impairments on the rise.

Transactions announced for the second quarter rose to 20 involving $13.3 billion of revenues from 15 in the first quarter and hit a milestone in more closely resembling pre-COVID-19 mergers and acquisition activity, according to Kaufman Hall's quarterly review.

Facing revenue shortfalls, funding for Gov. Gavin Newsom's zero-emission efforts had been put on a waiting list.

Much uncertainty remains as the second half of the year begins, with Federal Reserve rates, recession and inflation all still to be decided.

S&P expects improvement although for some borrowers that simply means a reduction in losses, or breakeven to just slightly positive margins.

John Di Stasio, president of the Large Public Power Council, said while the industry faces some pressures, public power systems are stable with growing revenues and healthy cash coverages.

California Gov. Gavin Newsom and lawmakers struck a budget agreement just days before the start of the fiscal year.

Virginia Wong, a partner in Nixon Peabody's public finance group, talks with Chip Barnett about effective mentorship and building successful teams. (15 minutes)

The FAA's reauthorization is facing trubulence before its expiration in September, but the enormous amount of cash airports have received from recent legislation situates them well regardless.

The Republican ESG bill calls for studies on key muni market issues, including bans on soliciting business, ESG disclosure and investment decisions by underfunded state and local pension plans.

Moody's boosted CalHFA's rating to Aa2, following a similar move by S&P in December.

There is a growing likelihood that the July 17 plan of adjustment hearing will be postponed.

Clare Oaks' history of fiscal struggles resulted in two bankruptcy filings, the most recent leading to a bond exchange in 2020.

The Oklahoma Supreme Court is considering the turnpike's application to jumpstart funding for a $5 billion extension project with $500 million of revenue bonds.

Typhoon Mawar's impact on the service area is the rating agency's biggest concern.

The clarifications are predicted to boost bond issuance .

The bill includes provisions to reduce the state's CBT rate and shield some overseas profits from local taxes.

The Massachusetts Bay Transportation Authority's budget is focused on safety improvements after federal regulators pointed out deficiences.

The Securing Growth and Robust Leadership in American Aviation Act would reauthorize the Federal Aviation Administration before its funding expires in September.

The bill, which was introduced Tuesday, is cosponsored by Sens. Catherine Cortez Masto, D-Nev. and Bill Cassidy, R-La.