Munis

Moody's Investors Service cited thinning operating performance for the downward outlook revision.

The legislation comes as the U.S. and Florida saw a record number of rocket launches last year.

Interest rates and federal elections hang heavy over the industry and municipal analysts believe certain muni sectors or subsectors will experience credit deterioration.

The ratings agency cited federal support and military spending on the island as keys to its decision.

As ridership remains low, investors are closely watching for new funding streams and credits like the MTA's planned congestion tax-backed bonds.

The trend toward paying down debt, as opposed to tender offers or refundings, to save money cuts across Red state/Blue state lines. New Jersey retired $500 million of debt to produce $160 million of savings.

The new governor and concessionaire on the $2.1 billion P3 have reached a revised deal that will lower tolls and provide a 15% equity contribution to the local area.

Capital Markets Advisors and its co-principals Richard Ganci and Richard Tortora are caught up in a legal back and forth with the SEC over how MSRB Rule G-42 on conflicts of interest applies to their case.

Brightline, a high-profile name in the speculative muni market, is set to come to market next week to remarket $675 million of 2020 bonds.

The top bond counsel in 2023 handled a combined $361.721 billion across 7,164 bond issues versus $359.189 billion in 7,882 transactions in 2022. 

Sioux Falls, South Dakota, has put out a request for competitive sealed proposals from financial advisory firms as it gears up for capital projects.

The proposed bond-financed Uinta Basin Railway has been hit with regulatory setbacks in the wake of a 2023 federal court ruling.

The top five bond financings have an average dollar volume of more than $917 million.

Lake Erie College entered into a forbearance agreement with bondholders after the school didn't meet certain covenants it agreed to as part of a debt sale. 

Gov. Katie Hobbs' proposed fiscal 2025 budget calls for agency fund sweeps, a new eligibility requirement for a costlier-than-expected universal school voucher program, and other measures to combat a rising shortfall.

Increasing the costs for banks to hold municipal bonds would be passed down to cities and states in the form of higher financing costs, industry advocates said.

The University of Chicago Harris School's Center for Municipal Finance is joining forces with Investortools to help advance municipal finance knowledge.

The state of Wisconsin is embarking on a flurry of debt-related activity as the year begins, with a cash defeasance and three refunding deals on the table.

When it comes to sectors, Miller said he likes charter schools, healthcare, land-secured debt and some industrial revenue bond positions.

The current property insurance crisis in several states may dramatically shorten the climate risk horizon for municipal investors. The municipal market's relaxed attitude toward climate risk may be seriously challenged in the years ahead.