Investments

Michael Rowan, CFA, managing director of global public, project and infrastructure finance at Moody’s Investors Service, talks about how COVID-19 is affecting the rating process. John Hallacy hosts.

ICI reported nearly $3 billion of outflows, which is foretelling that coronavirus-driven volatility still lingers even if the muni market has rallied by at least 60 basis points since early-April high yields.

Shifts in smoking habits and increasing tobacco restrictions drove two downgrades of the New Jersey Cigarette Tax Revenue Bonds.

A Florida utility continues to pursue a lawsuit against a public power agency with a stake in the Plant Vogtle project.

The FAA announcement came several hours before the Treasury Department said it has reached loan and grant agreements with major passenger air carriers.

Municipal bond counsels accumulated $87.02 billion, up from the $75.14 billion in the first three months of 2019. The top spot remained the same but the rest of the top 10 saw a plethora of changes.

The two active municipal bond insurers insured $4.83 billion in the first quarter of 2020, an uptick from the $3.62 billion of wrapped deals done in the first three months of 2019. The year-over-year increase in the sector is noteworthy given that the primary market was shuttered for weeks in March due to the coronroavirus pandemic.

Starting on March 10, ETF prices consistently diverged from benchmark indices and were underpriced for about 10 trading days before converging again.

The pending deal with a Bank of America-led syndicate would enable the commonwealth to draw down needed finds while tax revenues are deferred.

Virgin Trains USA hopes to sell tax-exempt bonds from its $600 million California allocation this summer.

The rating agency cites the decline of tourism following the worldwide spread of coronavirus.

Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.

Skilled nursing facilities and long-term care are deluged by the pandemic, adding financial stress for a sector that issues unrated and speculative grade debt.

The appellate ruling that residents should be eligible for the Social Security Administration program has the potential to help Puerto Rico's economy.

S&P shifted its outlook the Illinois public universities it rates to negative as questions abound over how the state will manage revenue losses.

Due to the coronavirus, a plant in Indiana may not be able to make its bond payments.

Volume is down sharply across the Port Authority of New York and New Jersey's transportation assets since the March COVID-19 outbreak.

Confidence in the municipal market among participants has been boosted by the Fed purchase program, but some expect that if equities dive amid more coronavirus fears or re-test March lows, munis could be rattled once again.

The state will fast-track billions in road projects despite not knowing how the pandemic could impact revenues.

By trading electronically — the international standard — and providing regulatory reporting support as a result, the firm said it broadens the ability for foreign investors to buy munis.