Munis

As muni advocates fight for the preservation of tax exemption, foreign investors are using the ASCE Infrastructure Report Card as evidence that increased privatization of assets is needed to improve the grades.

The S&P issuer rating upgrade marks the second for Oklahoma since September when Moody's raised its rating a notch to Aa1.

The effects of infrastructure spending and the need for more are coming into focus as the municipal bond community is dealing with a Congressional threat to eliminate the tax-exempt status of munis. 

The legislation would create a bond-financed reinsurance program to stabilize the homeowner's insurance market, which has been impacted by wildfires.

The Illinois Finance Authority will go to market with $850 million of revenue and refunding bonds for the Illinois Environmental Protection Agency next week.

Another big deal from a major borrower is moving forward after Rochester's City Council last week approved a conduit bond sale for the Mayo Clinic.

Goldman Sachs was tapped to lead a sales tax revenue bond issue to finance an arena to replace Paycom Center, home of the NBA's Thunder.

Colleges and universities have already begun hiring freezes and spending cuts, dialing back research and rescinding offers to Ph.D. candidates, the rating agency said.

The American Society of Civil Engineers released its infrastructure report card, which shows that billions spent on infrastructure is having overall positive effects on the condition of the nation's bridges, highways, and ports.

The New York City Municipal Water Finance Authority is tapping the market for the second time in two months, this time with a $600 million refunding.

An Oklahoma agency is borrowing $1.15 billion through an unrated tax-exempt Public Finance Authority bond deal to build and equip a tire factory backed by Finnish interests.

The Chicago Public Schools ended the week no closer than it started to answering the question of how or if a scheduled pension payment will be made.

The rating agency cited a tax cut package enacted by the state last year and uncertainty over federal policies for the outlook revision to stable from positive.

Natural disaster disclosure warrants 'a special focus,' NFMA's 2025 chair says.

Mesirow's George Barbar said the group's top legislative focus is preserving the municipal bond tax exemption.

As lobbying efforts happen behind the scenes in the House, the ongoing battle over the Washington, D.C., budget is attracting attention from the market and the credit rating agencies who are hedging their bets on a successful outcome.

Firms like Siebert Williams Shank and Huntington have begun stacking their benches with municipal finance talent amid tax exemption uncertainty.

The city council approved the private placement of up to $325 million of notes to commence funding for a $1 billion convention center expansion project.

Fitch Ratings cited the San Diego-area health district's ongoing fiscal woes in dropping its rating to B-minus from B and revising its negative watch to a negative outlook.

"If you're an issuer, this is fly-in season," said Jarrod Loadholt, partner at Ice Miller LLP. "Don't hope someone else is going to solve this for you — they're not."