Munis

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.

State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.

Robert Kelchen, a higher education finance professor at Seton Hall University, discusses near-term challenges facing U.S. colleges as they grapple with revenue hits from the COVID-19 pandemic. Andrew Coen hosts.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

Gov. Phil Murphy’s $5 billion emergency bond plan to patch revenue gaps caused by the COVID-19 pandemic faces an uncertain future in the state legislature.

The South Carolina Legislature put in place strict oversight of the state-owned utility until they decide whether to sell it.

The bill was set aside as state lawmakers limit legislation to the issues of housing, wildfires and coronavirus. Meanwhile, more cities and counties issue POBs.

Without federal funding, many toll facilities will be forced to comply with bond covenant requirements, which could mean reductions in workforces and delays in capital projects, toll groups said.

Moody's Investors Service cut the Catholic college in New Jersey to Baa1 citing its rising debt burden.

The announcement comes at a pivotal time for the municipal market as the SEC released a statement earlier this month detailing the kinds of coronavirus disclosures municipalities should be making.

Clark Hill senior counsel Andrew Maher will serve a one-year term.

Indian River County petitioned the court to overturn its unsuccessful appeal against the U.S. Department of Transportation and the passenger train operator.

The Evanston, Illinois-based university will offer $300 million of taxable debt as soon as Wednesday after losing its gilt-edged rating status.

The MSRB also said more municipalities have begun referencing CARES Act loans in their disclosures.

The system is managing the pandemic's impact on its campuses and hospitals, as well as a drop in the price of oil, which supports it financially. Neither situation is expected to shake its rating strength.

The Bluegrass State will issue debt for operations and capital needs at the University of Louisville Health Medical Center.

California may need to use interfund borrowing to get its budget into balance, Gavin Newsom said.

It is feasible that not all COVID-19 filings are or will be material but one may want to err on the side of caution in this regard.