Munis

The Florida Department of Transportation filed motions with an appellate court challenging the Miami-Dade County Expressway Authority’s lower-court wins.

Spending and economic strains loom as challenges for the state government, S&P Global Ratings’ Carol Spain said in a recent presentation.

The deal allows the university to shed a master trust indenture and concentrate its debt under the University of Nebraska Facilities Corp.

The proposed transition regulation addresses the possibility that such a modification of a debt instrument, derivative, or other financial contract could be a taxable transaction for federal income tax purposes or could result in other tax consequences.

The city's municipal expects $44 million of present-value savings in the $244 million deal to refund 2010 BABs.

Administrative failures or a lack of understanding of the rule may be to blame.

Following suit with the issuers and underwriters, top muni financial advisors were outpacing business done to this point last year with $224.84 billion, up from $206.93 billion. The first three spots in the rankings remained the same for the big players, as the rest of the field saw a bevy of changes.

Through three quarters municipal bond issuers are coming to market more frequently than they did during the same period of 2018, as low rates and yields are too good to pass up and demand for muni bonds is closing in on an all-time high.

Municipal underwriters saw increased business, as demand for muni bonds jumped through the roof. Top muni underwriters accounted for $267.51 billion in 7,310 deals, up from $239.33 billion in 6,406 transactions in the first nine months of 2018.

Greater Nanticoke Area School District has posted a legal notice of plans to float bonds in an amount "not to exceed" $17.5 million, to be used for "advanced refunding of the school district's outstanding general obligation bond." The move is projected to save about $600,000.

Municipal advisors can begin taking their principal exams in November.

Fitch Ratings upgraded the district to BB-plus from BB-minus.

Fitch Ratings downgraded about $5 billino of AMP project revenue bonds.

The Big Apple was a big presence in the market on Thursday as it sold almost $1 billion of taxable and tax-exempt general obligation bonds.

Judge John Cooper’s decision could set the stage for an appeal in the Miami-Dade County Expressway Authority’s litigation.

The Securities and Exchange Commission is seeking comment on exemptive relief for municipal advisors in some activities in private placement deals, eliciting fierce resistance from broker-dealer groups.

Bankrupt investor-owned utility PG&E was a factor in many of the bills approved to deal with the state's wildfire risk.

Municipal bonds were on the move Wednesday as two big issuers came to market with over $1 billion of transportation bonds.

Assured Guaranty and two other bond insurers recently petitioned the Supreme Court to review an appellate court ruling involving the Puerto Rico Highways and Transportation Authority’s special revenue bonds.

The legal teams for Baltimore and Philadelphia asked the court to reject the banks’ plausibility argument as well as their claim that the suit is barred by a four-year statute of limitations.