Investments

Suffolk's improved finances won the county its third rating upgrade this year.

"With strong demand, rate cuts and favorable technicals, the muni market — outside of an unexpected shock — is set up to perform well over the next couple of months," said Daryl Clements, a municipal portfolio manager at AllianceBernstein.

Calling it a "tragedy" for residents, without a negotiated setllement resolution could be years away, mediators said.

The rating agency cited an easing of the state's fiscal challenges for lifting the outlook on the state's Aa2 rating to stable from negative.

Bond Buyer senior reporter Keeley Webster hosted a wide-ranging discussion on the state's fall bond slate, housing, and second-term priorities with California Treasurer Fiona Ma and Deputy Treasurer of Public Finance John Sheldon.

A circuit court judge earlier this year struck down the law prohibiting state and local government contracts with firms "boycotting" the fossil fuel industry.

As stadium and arena deals grow in complexity and expense, the capital stack often includes a combination of public and private money along with revenue generated by the facilities.

Munis are in the black so far this month, with the Bloomberg Municipal Index at +0.33% in December and +2.88% year-to-date, the high-yield index is at +0.27% in December and returning 8.41% in 2024, while taxable munis are returning 0.43% so far this month and 4.58% in 2024.

Principal Street Partners will acquire the bankrupt firm that specialized in high-yield bonds issued for senior living facilities and charter schools.

The San Diego County-based healthcare district is at risk of "breaching financial covenants which, absent lender cooperation, could lead to acceleration of all of Palomar's outstanding revenue debt," Moody's Ratings analysts wrote.

The legislation sends unobligated dollars from the TIFIA program to the popular Surface Transportation Block Grant.

Photos from The Bond Buyer's 2024 Deal of the Year awards gala.

Connecticut is poised to ramp up transportation borrowing, after years of consistently issuing less debt than it had the capacity and authority to sell.

Investors will be greeted with a diverse new-issue slate the week of Dec. 9, led by bellwether names. If all the deals price, 2024's total should break 2020's record by the end of the week. Despite rich valuations, demand has remained strong as the year winds down.

A dispute over open meetings laws has stalled progress on UI's plans to purchase online University of Phoenix.

Pinellas County still needs to approve more than $300 million in bonds of its own for the stadium and redevelopment.

Experts are already predicting where the spending cuts will happen including the status of the tax exemption for municipal bonds.

Kevin Bain, formerly director of strategy for the city of Detroit, has joined Public Sector Consultants as a senior strategist for climate and project finance.

California's IBank has partnered with an insurer and fire resilience fund to pay for fire resilience programs.

S&P Global Ratings released a report this week warning that the credit trajectory of the Chicago Board of Education will hinge on several contested factors.