Munis

Private Milliken University in Illinois is sweetening its upcoming bond deal by adding a student apartment complex to increase investor protections. 

While the surface transportation reauthorization lumbers through Congress and IIJA funds starting to sunset, some states are tapping pooled bond funds and relying on independent financing authorities.

The deal funds the municipalization of a private water utility that had been controlled by investor-owned utility Eversource.

Despite some struggling projects, student housing P3 deals that hit the primary market this year have enjoyed oversubscribed demand.

The default comes as charter school bonds have been the municipal sector with the most defaults this year.

Meanwhile, settlements in New York and California cases may be near.

The grace periods are getting shorter.

Advocates in Congress are now looking at the possibilities for the Modernizing Agricultural and Manufacturing Bonds Act offered by a third reconciliation bill, a lame duck session, or Trump-propelled legislation early next year.

Milwaukee is considering a bond-financed municipalization of its electric utility, which is currently run by investor-owned We Energies.

The city's issuer rating was raised a notch to Aaa and ratings for other debt, including for its water and wastewater utility system, were also upgraded.

Increased use and size of the economic development tool led to the exemption of about $1.1 billion in property taxes between 2010 and 2024.

The updated FAQs offer "important insights about recordkeeping requirements related to new issue pricing," NAMA Executive Director Susan Gaffney said.

Tracking with the larger U.S. managed lane sector, the company enjoyed strong growth in its North American market.

After Moody's Ratings withdrew its bond rating due to a lack of information, the Iowa City Community School District is taking steps to improve its finances and its reputation.

With the future of U.S. public funding for infrastructure remains cloudy in terms of quantity and delivery methods, sentiment appears to be shifting towards allowing more private investment.

Charter school bonds are defaulting or becoming impaired at a higher rate than any other sector, data show.

State budgets are in a state of flux due to aging populations and changes in federal spending policies that are affecting revenue and reserve funds.

Local governments are considering data center moratoriums to give themselves time to determine how to better regulate these facilities and understand their impact on communities.

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Declining tender activity stems largely from higher interest rates, and a higher-for-longer interest rate environment is expected to "keep a lid" on any tender resurrection, said Jeff Lipton, market intelligence analyst at Bond Buyer.