Investments

The $1.18 billion revenue bond issue will commence long-term financing for a $5.5 billion expansion program at Austin-Bergstrom International Airport.

Chris Brigati, managing director and CIO at SWBC, said he was "a little underwhelmed" with the market as volumes and flows were lighter than he expected.

Eichar said Stradling's strength in working on infrastructure projects with local agencies was an attraction.

The sector's challenges have also impacted the overall high-yield education index.

As Congress crafts the next surface reauthorization bill, states want to retain control over the bulk of the formula highway funds.

The rating agency cited the prospect of lowered debt service coverage ratios in the next three years.

Massachusetts brings double-A-plus level ratings to the competitive deal, comprised of $800 million of new money bonds plus a refunding component.

With the "fragile" ceasefire in the United States-Iran conflict underway, the risk of higher rates beyond those from March has largely been removed, said BofA strategists.

The state does not have the bonding capacity to independently rebuild the American Legion Bridge, the feds say. The state continues to hope for a federal grant to help cover the cost.

During the two-week ceasefire anything could still happen and a "blow up" would create significant volatility, said Kevin McGuigan, director at Municipal Market Analytics.

The Los Angeles County Metropolitan Transportation Authority sold about $900 million to refund older bonds and finance projects, including a subway extension.

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

Realty Income, a real estate investment trust concentrated in low-risk retail and industrial real estate, was the funding recipient on the $675 million deal.

Litigants say $400 million in planned Port of South Louisiana bonds were not properly advertised. It's part of a wider challenge to industrial development plans.

Moody's Ratings cited a substantial fall in unrestricted liquidity for the two-notch downgrade. Moody's also placed the rating on review for another downgrade.

"It seemed to be a relief rally [Wednesday], and that's what everyone's hoping for. But fundamentally, they're still major issues that need to be addressed, but people seem to be giving that a pass," on Wednesday, said a source.

Market Intelligence analyst Jeff Lipton looks back on a first quarter in which the municipal bond market was unexpectedly buffeted by the winds of war.

"I find this a very encouraging appointment," Peter Chan, a partner at law firm Baker McKenzie, said of Woodcock's appointment.

KBRA revised the outlook on the Chicago Transit Authority's Series 2015 and 2016 Transportation Infrastructure Finance and Innovation Act loans to stable.

A second budget reconciliation bill is moving closer to reality, creating a mixed bag of challenges and opportunities for the municipal bond market.