Investments

"This settlement offer allows you to settle for payment in the form of new bonds of approximately half your claims," the Puerto Rico Oversight Board said.

"Our budget proposal not only builds on the successes of the past four years, but ensures that Florida will continue to thrive," said Gov. Ron DeSantis.

Energy production taxes slowed or fell last month, with the oil tax generating $486 million, which was 14% higher than in January 2022, and natural gas tax revenue falling 13% at $322 million.

Bolingbrook called the GO cut to BBB-plus from AA an attempt "to cause a de facto conversion" of a special sales tax district's debt to a general obligation.

"Investors are acknowledging that the Fed is nearing the end of its rate tightening cycle which is supporting a relief rally in stocks and lower bond yields, said Bryce Doty, senior vice president at Sit Investment Associates.

The Department of Agriculture announced that 64 projects by power cooperatives and utility companies to improve rural power systems were approved for loans.

Prior to last year, there were varied expectations from investors that led to confusing directions and expectations for issuers. In other words, there was a lack of consistency from investors on ESG matters.

Alex Chilton is the firm's new head of municipal securities. Zach Solomon and David Gallin are co-heads of public finance. 

They also came in 14% higher than those of December 2021.

The $292 million federal grant comes from the Mega grant program for large, complex infrastructure projects, which had a "wildly competitive" first year, said Transportation Secretary Pete Buttigieg.

Christian Care Centers' bankruptcy liquidation plan leaves bondholders impaired after an asset sale raised only $44.25 million.

The MSRB is proposing to allow previously qualified muni advisors, who have been out of the profession for two or more years, a one-time exemption from having to requalify by examination.

Total volume for the month was $21.931 billion in 417 issues versus $26.292 billion in 770 issues a year earlier, according to Refinitiv data.

The state must spend more than previously estimated to keep pace with infrastructure needs, the Tennessee Commission on Intergovernmental Relations reported.

"January issuance is at a multi-year low, with large declines in both taxable and tax-exempt issuance," said Matt Fabian, a partner at Municipal Market Analytics. 

Tim Walz's proposed budget offers a mix of additional spending, tax cuts, new bonds, and an early payoff of bonds issued for the NFL Vikings' stadium.

The Puerto Rico Oversight Board says PREPA electric demand will decline 50% by 2051.

Mayor Lori Lightfoot, in a reelection fight, highlights first-term progress including lifting the city's bond ratings and bringing new investors to debt sales.

Investors will likely sit on the sidelines until after this week's Federal Reserve Board rate announcement.

The lawsuit comes as higher education energy concessions have become one of the most active spaces in the P3 market.