Investments

FLORIDA

CALIFORNIA

Bond insurer Syncora Guarantee challenged Detroit's settlement with its unlimited-tax general obligation bondholders in court Tuesday, arguing that it means Detroiters will continue to pay taxes on a levy that they did not approve on the original ballot.

Boston, Philadelphia and Baltimore typify how the 'eds and meds' presence of universities and hospitals can boost older cities' credit profiles, said Moody's.

Moody's Investors Service on Tuesday withdrew its general obligation bond rating on Tehachapi Valley Healthcare District, Calif. citing a lack of financial information for fiscal 2013, affecting $63 million in debt.

California's new law to require issuers to disclose bank loans will likely result in lower borrowing costs, according to a report from Municipal Market Advisors.

As Detroit gears up for a key trial on its bankruptcy exit plan next week, a long-simmering dispute over $1.4 billion of certificates of participation is just starting to heat up.

ILLINOIS

ARKANSAS

Airport credits are stabilizing after major shifts in the airline industry, Moody's Investors Service said, but smaller hub airports face challenges.

Mileage-based fees may one day replace the gasoline tax as the prime source for federal transportation funding, but it won't be quick and it won't be easy.

The long-running power struggle at the University of Texas that led to a legislative censure of UT Regent Wallace Hall is credit negative for the UT System, according to Moody's Investors Service.

ALABAMA

Volume will slip from last week, remaining lighter than usual, as an estimated $4.2 billion makes its way to market.

Loyola University Chicago has hired Robert A. Munson to serve as chief financial officer, filling a position being vacated by the retirement of Bill Laird after 11 years.

The Puerto Rico Electric Power Authority put off a day of reckoning in an agreement with creditors announced Thursday, but still may be headed for what would be the largest municipal bond default in U.S. history.

The Detroit City Council has approved a series of four bond issues that include nearly $1 billion of new limited-tax GO bonds to help finance unsecured creditor settlements as part of its bankruptcy plan.

Though New Jersey and California are on starkly different credit paths, municipal analysts said their recent trading patterns suggest equally-strong demand.

The Puerto Rico Electric Power Authority announced agreements with insurers and bondholders controlling more than 60% of PREPA's outstanding bonds to amend existing bond documents to provide PREPA with liquidity and for PREPA to appoint a chief restructuring officer.

ALABAMA