Munis

The Los Angeles and San Diego school districts warned that extraordinary costs mean their budgets may not balance.

Benchmark yields fell another 50 to 60 basis points, dropping them more than 1.5% in just four days. Meanwhile, a $450 million taxable new-issue came to market and was eight times oversubscribed.

A shutdown of large public gatherings due to virus's pandemic cost the Manhattan cultural organization its investment grade rating.

A judge preliminarily approved a deal to end three lawsuits, but the South Carolina-owned utility still faces federal securities fraud litigation.

The rating agency, citing severe ridership drops from COVID-19, dropped its rating to A-minus from A. It assigns a negative outlook.

Disclosure in a series of pending and recently priced Midwest healthcare deals underscore the rapidly evolving impact of COVID-19.

Two rating agencies placed a negative outlook U.S. toll roads, while others monitor risks as volumes decline as COVID-19 keeps drivers at home.

Bond-financed bridges across the Rio Grande will lose revenue because of the partial closure of the border, as will the Texas economy.

The SEC answered questions regarding COVID-19 disclosure in a webinar Thursday and said there would not be relief for issuers' late annual financial filings.

The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.

A Senate bill to be introduced Friday would allow the Federal Reserve to purchase municipal debt, in an effort to ease the economic strain of the coronavirus pandemic on state and local governments.

A coalition of healthcare industry organizations is asking for $100 billion in direct federal help, warning that the survival of some hospitals is at stake.

A memo circulated Wednesday by House Financial Service Committee Chairwoman Maxine Waters, D-Calif., suggests that the next wave of federal legislation authorize the Fed to support state, territory, and local debt issuance in response to the coronavirus outbreak.

Schools in 39 states had closed by Wednesday.

Local issuers in Texas also received authority to postpone bond measure elections that are slated for May.

GLWA has the flexibility to come to market as early as this week, but is monitoring the market in light of the COVID-19 impact.

The mall and entertainment venue shut its doors to combat the spread of the novel coronavirus, five months after its partial opening.

The agreement would end current and future litigation by class members over the South Carolina utility’s failed nuclear project.

Perhaps most important, nobody involved in this issue has argued that issuers or anybody else would benefit in any way from exempting MAs from appropriate regulation.

The New Jersey state teachers' union and state Senate President Steve Sweeney announced an agreement to lower school district and employee healthcare costs.