Investments

The bank was one of 225 credits Moody's placed on review for possible upgrade July 25 when it released a revised rating methodology.

LINXS, the private developer consortium, and Los Angeles World Airports struck an agreement on a timeline for completion of the people mover project, pushing Fitch Ratings' outlook higher.

August's volume reached $49.174 billion in 873 issues, up 25% from 2023. August's total is above the 10-year average of $40.828 billion and is also the highest monthly total this year.

The lawsuit contends a state law that punishes banks and others for "boycotting" the fossil fuel industry violates free speech provisions in the U.S. Constitution.

The muni market is "well-positioned for strategic opportunities, with strong inflows driven by the current narrative and eased secondary selling pressure," said James Pruskowski, chief investment officer at 16Rock Asset Management.

The sale follows the utility's successful initiation of two nuclear power units in the last 13 months.

Initiatives planned for the Nov. 5 ballot raised concerns in the state's municipal bond market over higher borrowing costs and litigation.

With Chairman Tom Carper retiring, the key committee will be under new leadership regardless of the election outcome.

The bonds will fund infrastructure in one of 21 community development districts that have built the age-restricted 55-and-up Villages to more than 76,000 homes.

The Investment Company Institute reported more than $1.3 billion of inflows into muni mutual funds. The last time inflows topped $1 billion, per ICI data, was for the week ending Feb. 7. LSEG Lipper has reported weeks with $1 billion plus inflows on July 31 and May 8.

ICE's and MarketAxess's networks are "complementary," said Peter Borstelmann, president of ICE Bonds, as the former is "deep and rich" in the retail wealth segment, while the latter is "deep and rich" in the institutional space.

The House bill supported by the coalition would allow municipal bond holders to transfer the securities to the bank in exchange for stock.

Tensquare and its partner Karl Jentoft were charged for acting as an unregistered municipal advisor in eight offerings for charter schools in Minnesota.

Chicago will bring to market $1 billion of bonds for O'Hare International Airport, part one of a three-phase financing plan for 2024.

Property taxpayers want a state court to order the city to reduce its 2024 tax levy by $187 million earmarked for a now-downsized mass transit plan.

"On the whole, the municipal market continues to provide an attractive entry point for investors," said AllianceBernstein strategists. "And with the Fed clearly communicating that a September rate cut is imminent, the future is bright for the municipal market."

The East County AWP Joint Powers Authority plans to construct a water reclamation project using the debt.

Mount Saint Mary College in New York saw its bond rating downgraded to BBB from BBB-plus by Fitch Ratings after persistent declines in student enrollment.

Redeveloping the RFK stadium site could spur public finance of a multi-use project.

The borrower has missed the last five interest payments on the grant-backed bonds.