Munis

Increasing private school enrollment has little to do with falling California public school enrollment, according to the Public Policy Institute of California.

The bond issue, which was delayed due to litigation, would be the first debt sold by the turnpike authority for its $5 billion, 15-year toll road program.

When Los Angeles World Airports CEO Justin Erbacci steps down next month, Beatrice Hsu will step up as interim CEO.

With around 30% of bonds trading near the de minimis threshold, a new study takes a deep dive into how the rule drives illiquidity as mutual funds dump paper that's approaching the threshold.

The Des Moines Airport Authority wants to take advantage of Polk County's triple-A ratings to lower borrowing costs for a terminal project.

Trinity Regional Hospital Sachse filed for Chapter 11 bankruptcy after problems left it unable to pay municipal bond debt service or cover operating expenses.

While the university remains current on bond payments, it is not financially stable, sources say.

"As an investor I'm not looking at the activity of the stadium as the security," said an Illinois sports authority bondholder of potential exits by the White Sox and Chicago Bears.

The city, which issued POBs in 2005, is awaiting recommendations from an actuary on how to deal with a $3 billion unfunded liability in its public safety fund.

Despite this, August saw the largest monthly volume of 2023, helped by several billion-dollar deals and multiple Texas school district deals.

The state's Council of Bond Oversight will once again consider $500 million of bonds for a controversial $5 billion Oklahoma Turnpike Authority expansion.

The upgrades mark the second in a year for the tollway authority's ratings, which were raised last August by S&P Global Ratings.

Fitch analysts mentioned the tardy ACFR in the ESG section of its most recent rating report on California general obligation bonds.

The state is capping transfers of fossil fuel-related revenue to its general fund and will invest money that exceeds the cap through a Severance Tax Permanent Fund.

Municipal bond issuance in the Far West was down 2.3% in a first half that saw volume drop 17.1% nationally.

The region's issuers sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did during the same period last year

The rating agency cited the Illinois county's accumulated reserves, as well as required pension contributions for the move.

Healthcare and transportation had the biggest contraction in issuance volume.

Total volume in the first half of the year was $180.882 billion in 3,853 deals, down 17.1% from the $218.230 billion in 5,444 over the same period in 2022, according to Refinitiv data.