Investments

The struggling Chicago suburb is waiting on audited financial statements that, once in hand, will pave the way for an exchange offer to its GO bondholders.

Tishelman, a 40-year market vet, comes to Siebert from UBS Financial Services, where he was a managing director and head of issuance strategies and municipal sales.

After falling to just $26.6 million in December, state officials lowered the program's reserves effective March 1 to boost capacity.

The rating agency affirmed Louisiana at AA-minus. The state also received its first-ever rating from Kroll Bond Rating Agency: a AA rating and stable outlook.

The board says the PREPA bondholders are making "extraordinarily broad and burdensome" requests.

For four consecutive weeks, triple-A yields have fallen, and munis returned over 2.2% for the month, "a great reversal from February where munis returned a loss of 2.26%," said AmeriVet Securities' Jason Wong.

The Tulare lab is not required to make lease payments that pay the debt if the building is rendered inoperable.

Headwinds remain, despite the S&P upgrade, as the district warns of a $600 million gap once federal COVID-19 aid runs out with its governance poised to change.

Phoenix asked a state court to prohibit residential housing on the site of the Tempe Entertainment District due to its proximity to Sky Harbor International Airport.

The bond parties want the appeals court to immediately consider their liens on revenue but getting this heard before an approved plan of adjustment may be an uphill battle.

Comptroller Thomas DiNapoli noted state law requires salary payments to legislators be withheld after March 31 if a budget is not in place.

"Folks are aware of possible pressure that could weigh on the market, but attitudes are still generally more constructive than negative at this time," says Tom Kozlik of HilltopSecurities. 

Total volume for the month was $31.795 billion in 515 issues, down from $45.555 billion in 985 issues a year earlier, according to Refinitiv data.

The authority hopes to have solar and wind provide 30% of the islands' electricity within two years.

Fitch Ratings affirmed Illinois GO bonds at BBB-plus and lifted the rating outlook as the state prepares to sell up to $2.5 billion of general obligation debt.

Lawmakers resurrected a bill vetoed by Gov. Brad Little after amending it to remove a clause that jeopardized a transportation bond deal.

Outflows continued as Refinitiv Lipper reported $194.097 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $427.082 million of outflows the week prior.

In his annual address to Puerto Rico's legislature Pedro Pierluisi hailed the growth of Puerto Rico's economy.

The Irvine Facilities Finance Authority will price $455 million in special tax bonds to develop the Great Park in the Orange County, California, city.

Tioga Independent School District, located north of Dallas, has a state-appointed monitor to develop and implement "a corrective action plan."