Munis

The proceeds will be used to finance replacement of the Calcasieu River Bridge.

The mayor and controller debated the causes for the rating outlook revision to negative from stable ahead of a July city bond sale.

Issuance was lumpy in July, with three weeks of $10 billion issuance sandwiched between lower issuance due to the Fourth of July holiday at the start of the month and the FOMC meeting the last week.

Fitch upgraded Chicago's issuer default rating and GO debt rating to A-minus from BBB-plus and the city's sales tax securitization bonds to AAA from AA-plus.

The newcomers, Greenberg Traurig, Bryant Rabbino and Ballard Spahr, knocked Bracewell, Nixon Peabody and Gilmore & Bell, out of the top 10.

Concerns have been raised about audits related to nearly $2.9 billion of ratepayer-backed bonds sold for Oklahoma utilities in 2022.

While it may cost the city more to sell its bonds, the negative outlook could increase market participation, one analyst said.

Karl Knight worked as chief of staff for U.S. Virgin Islands Gov. Albert Bryan Jr.

The Chicago Public Schools board unanimously approved the district's 2025 budget Thursday, a day after the Civic Federation warned it is a "temporary solution."

In May, a bipartisan group of lawmakers sent a letter to the federal agencies responsible for the FDTA rulemaking, urging them to stick to the schedule spelled out in the law.

V2 Municipal Capital will source deals exclusively for Fundamental Advisors.

Municipal bond insurance grew 24.4% in the first half, compared to the same period last year.

The top 5 competitive underwriters remained in the same ranking positions as 1H 2023, while there was some shuffling with the remaining in the Top 10.

The largest is an up to $2 billion issue to replace the I-10 Calcasieu River Bridge.

Kaufman Hall & Associates, Caine Mitter & Associates, KNN Public Finance entered the Top 10, while CSG Advisors, Estrada Hinojosa and Columbia Capital Management were bumped.

Vance has called for eliminating the SALT deduction, calling it "massively redistributive toward the lower- and middle-income brackets."

Half of the top 10 issuers are from New York, California issuers hold two spots on the list.

Raymond James was the sole new entrant in the Top 10, knocking out Citi — which formally exited the muni market by the end of Q1 2024.

North Dakota's Bismarck State College returned to the market, pricing $30 million of bonds, with proceeds used to finance the construction of an 80,000-square-foot athletic center.

First Eagle Investments has hired Purva Patel, based in Chicago, as managing director and senior investment specialist on its high-yield municipal credit team.