Investments

While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.

Proceeds, along with additional monies, will be used to fund the cost of the Royal Caribbean Cruises Ltd. (RCG) campus project as well as a debt service reserve fund.

However another town is still struggling with issues that further threaten its already-strained viability while 14 local governments were designated as distressed under the viable utility reserve legislation.

The turnpike authority will now seek reapproval from the Oklahoma Council of Bond Oversight before it can head to the municipal bond market.

Most states continue to fare well, despite economic shocks and weakening revenue growth.

J.P. Morgan held a one-day retail order for $1.65 billion of revenue bonds from the Dormitory Authority of the State of New York, while Minnesota sold $1.02 billion of GOs in the competitive market in five deals.

"We believe that the most effective project delivery happens before your project even begins," said DOT Volpe Center Director Anne Aylward.

Sponsors say bill is a chance to have territories' needs addressed.

Oliver, 71, had been serving as acting governor while Governor Phil Murphy was in Italy on vacation with his family.

Major bondholder Preston Hollow and the trustee for $86 million of debt sold for Mercy Iowa City in 2011 and 2018 pointed to default events.

Tax-exempt bonds issued for the American Dream mega mall backed by New Jersey economic development grants are poised to miss a third straight interest payment.

This week kicks off a flip of calendar to the final month of the summer reinvestment season and one of the larger new-issue calendars of the year.

The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged.

Bond for the private Florida passenger railroad have outpaced their high-yield muni peers as trading volume increased.

The board and the PREPA bond parties told Swain they had reached "an agreement in principle to resolve the outstanding perfection issues" in the bankruptcy.

July's total volume was $25.939 billion in 542 issues, down from $28.258 billion in 619 issues a year earlier, the smallest percentage drop in monthly issuance year-over-year in 2023, according to Refinitiv data.

Ikhrata told the board Friday that he would be stepping down from the San Diego County regional planning agency in December.

The state-created agency has a plan to finally tap hitherto unused proceeds from a 2021 bond issue.

The three-day National Association of Securities Professionals event featured industry experts and focused on accelerating inclusive development.

For the coming week, investors will be greeted with a larger new-issue calendar led by large New York and Texas ISD issuers, along with gilt-edged Minnesota selling competitively.