Investments

A graduated income tax could lay the groundwork for Illinois to rebuild its credit quality — but only if done right, according to the rating agency.

Chicago and its pension funds dispute whether the city is meeting its obligations; the city says the state comptroller is too quick to believe the funds.

Carl McCall, a former New York State comptroller and Democratic candidate for governor, reflects on what molded his many years of public service starting with enduring the challenges of growing up in a segregated Boston neighborhood to the recent experience of chairing the State University of New York Board of Trustees. Andrew Coen hosts.

Assured Guaranty CEO Dominic Frederico said at the recent AFGI Puerto Rico Bankruptcy Risk Summit that "the open disregard of law" among public officials in Puerto Rico "could give public officials elsewhere reasons to believe they could escape their obligations."

James Spiotto, Managing Director at Chapman Strategic Advisors, explains why he believes U.S. district court Judge Swain's decision on special revenue bonds was wrong, and the impact it may have on revenue bond issuance, at the recent AFGI Puerto Rico Bankruptcy Risk Summit.

Thirty-five local plans carry a combined unfunded liability of roughly $2.5 billion, a slight increase from last year, a state report says.

KBRA senior managing director William Cox, when discussing lessons learned from the Puerto Rico debt crisis at the recent AFGI Puerto Rico Bankruptcy Risk Summit, noted that the behavior of management sends "strong signals regarding credit character," in this case "chronically late financial statements."

At the recent AFGI Puerto Rico Bankruptcy Risk Summit, Matt Fabian, partner and lead analyst at Municipal Market Analytics, noted that investors "would like to have more distinguishing between credits, but market realities limit their ability to do so."

Adam Bergonzi, Chief Risk Officer of National Public Finance Guarantee, said at the recent AFGI Puerto Rico Bankruptcy Risk Summit that the event was created as a rebuttal to an "oft-heard sentiment" that the commonwealth's bankruptcy was an anomaly.

Jennie Huang Bennett is seen as the front-runner as the municipal bond market awaits the Chicago mayor-elect's fiscal picks.

Critics pointed to the agreement's failure to lower operating costs and its "very favorable" treatment of Assured Guaranty.

The 30-day net supply is now at negative $17.2 billion, a muni strategist said on Monday.

If approved by the governor, the budget will mark the ninth consecutive year of record spending by the Sunshine state.

The issuer launched a new investor relations website in advance of its bond sale Tuesday.

“Brogdon's substantial and ongoing failure to comply with the plan and court orders are egregious and ongoing,” a court-appointed monitor reported.

In a letter sent to the SEC and the Municipal Securities Rulemaking Board late last week, the group said lapses in issuer financial disclosures are unacceptable.

High Point plans to take on a new round of debt to finance several water and sewer projects.

The top three bond proposals — all in excess of $1 billion — won easy approval even as some large school district measures fell short.

Taxable municipal bonds have been in the spotlight of late and investors are eating them up.

The University of Texas System will bring $386.8 million of refunding bonds to market this week.