Munis

Utilities, and the local governments and states that house data centers, are wrestling with policy questions about who should cover the costs of the projected spikes in water and electricity demand.

The authority's borrowing apparatus is maintaining a business-as-usual approach it embarks on a massive new capital program and fends off federal cuts.

Cook County, Illinois, plans to go to market Oct. 1 with $150 million of sales tax revenue bonds. The deal comes on the heels of a Moody's upgrade to Aa3.

Central Texas Regional Mobility Authority's ratings were raised by Moody's, which, along with S&P, upgraded North East Texas Regional Mobility Authority's.

The appelate ruling in favor of the San Juan Unified School District helps clarify what districts can finance under the state laws governing bond elections.

The rating agency's review was triggered by the city's move to effectively end plans for a seawater desalination project that has $235 million of bonds outstanding.

With an insolvent Highway Trust Fund, toll revenue and PABs are increasingly important for transportation financing, lobbyists said.

The commission also approved an audit for the financially troubled Winston-Salem/Forsyth County School District.

A mix of broader market dynamics and Chicago-specific pressures is driving the widening spreads, investors said.

Chicago Public Schools plans to return to market with $650 million of Series 2025A unlimited tax general obligation bonds.

With the estimated cost rising to $1.2 billion, the city council took action to end planning for the project, sparking concerns about outstanding bonds.

The school had less than one time debt service coverage last fiscal year.

With Congress back in session the lobbying for infrastructure funding is heating up.

Nevada's audited 2023 financials were released more than two years after the fiscal year ended. The state controller says structural changes will reduce delays.

Ketner is Baird's second hire in the higher education and nonprofit sectors in the last 30 days.

The Westin Chicago Lombard's owner is returning to market with unrated bonds designed to cure payment defaults on debt issued to exit bankruptcy in 2018.

Aleon Metals, along with its subsidiaries, which sold more than $300 million of tax-exempt revenue bonds since 2019, filed Chapter 11 bankruptcies in August.

"Another set of eyes helps improve the deal for everybody, including the borrower, because the borrower is going to want a successful venture too," said John Miller, head and chief investment officer of First Eagle's municipal credit team.

Issuance year-to-date is at $386.689 billion, up 14.9% from $336.478 billion over the same period in 2024.

Data center projects, which are proliferating across the country, are taking advantage of tax breaks that can be costly for states and local governments.