The effects of higher yields on Treasury bonds are cascading down into tax revenue levels that could raise the stakes for state and local governments facing higher borrowing costs.

"It behooves everybody to get something consensual," said a Florida bankruptcy attorney.

With nearly $4.5 billion of tax-exempt bonds, a restructuring or bankruptcy would be among the muni market's largest to date.

The Westin Chicago Lombard's owner is returning to market with unrated bonds designed to cure payment defaults on debt issued to exit bankruptcy in 2018.

Amid higher ed sector headwinds, financially challenged colleges and universities have options, although the choices may be difficult, Orrick attorneys write.

A federal court has given an outside debtor-in-possession loan "superpriority" over the bondholders' lien.

The rising costs of federal debt, an impending budget showdown, and Congressional turmoil is highlighting the complex relationship between Treasury securities and municipal bonds.

Management is hiring a municipal advisor to evaluate its financial strategy.

Fieldman, Rolapp & Co. has acquired Orem, Utah-based municipal advisor G.L. Hicks, a healthcare finance specialist.

Bondholders are prepared to loan up to $22 million to the hospital.

The merger, which takes effect Jan. 1, will combine the firms' public finance practices, which have a current headcount of 29 attorneys.

Eisner Advisory Group Partner Allen Wilen is the chief restructuring officer for Jackson Hospital & Clinic.

The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.

Municipal bonds on the rise

To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.

Texas State Bankshares has agreed to buy Estrada Hinojosa & Co., one of the nation's biggest municipal underwriting and advisory firms.