Investments

A long-planned Maryland light rail system, which has encountered financial and legal obstacles, could make it tougher for large-scale P3 transit projects, according to analysts.

Municipals were in a holding pattern ahead of this week's $15.8 billion new-issue slate as issuers pour debt into the market and investors remain cautious ahead of election results.

The deal is being wrapped with insurance and $300 million of the $434 million offering is supported with the state government's moral obligation backing.

The board asked the judge to not put any deadlines on the negotiations.

The issuer hopes to expand its investor base to lure European investors with the move and will explore conducting non-deal road shows to highlight its green and ESG efforts in the municipal market.

Many issuers in California specifically do not mention climate change in their official statements.

The Central Texas Regional Mobility Authority will sell $333 million of bonds and notes.

"We have no need for cash-flow relief or restructuring," said the treasurer of Dallas Area Rapid Transit, which continues to expand its rail services.

The two-notch lowering to A-minus precedes the transit agency's planned $258 million negotiated sale of transportation revenue refunding green bonds.

New Jersey had a choice between the Federal Reserve’s Municipal Liquidity Facility and the muni market for its upcoming $4 billion borrowing.

Ratings agencies, banks and asset managers are formulating strategies to address ESG as investors clamor for information.

The city needs to continue meeting pension commitments and moving to structural budget balance despite the coronavirus pandemic, the rating agency said.

Municipals held firm Friday as the market gets set for another week of hefty supply. Citi anticipates $550 billion in 2021, led by surge in taxable issuance.

The board, at the first quarterly board meeting of its 2021 fiscal year, also voted to split its existing Nominating and Governance Committee into two.

New York's mayor is shifting $466 million to the current fiscal year’s capital budget to tackle affordable housing needs to offset some of his coronavirus-related cuts.

The city of Myrtle Beach, South Carolina, will honor its backup pledge to replenish the Myrtle Beach Convention Center Hotel Corp.’s debt service reserve fund.

Municipals were little changed on Thursday as the supply surge continued ahead of the U.S. elections.

The No Place Like Home bonds, backed by a long-standing income tax surcharge, fund supportive housing for homeless people with mental health issues.

Refinancing and restructuring debt plays prominently in the city's budget plans

Surveys show employment was up as much as 7% in September from April.