Munis

Kroll Bond Rating Agency downgraded Chicago's general obligation bonds to A-minus from A, citing high fixed costs and one-time fixes. The outlook is negative.

As Republicans hash out their promised tax package, the debate over the bill's scoring method carries implications for tax-exempt municipal bonds.

Chicago plans to sell roughly $830 million of general obligation bonds to finance its 2024-28 capital improvement plan, according to the city's finance team.

The introduction of new engines in a northern power plant and the opening of a solar farm in the south have reduced the authority's operating costs.

The county would hold a special election for a sales tax to provide more funds to build and operate a bond-financed jail project that faces rising costs.

A record-breaking year for bond issuance will likely be followed by another strong year for munis even as the threat of ending the tax-exempt status appears in writing within the halls of Congress.

The top five bond financings came in above $7 billion.

The House document outlining potential policy changes focuses heavily on the healthcare sector to generate savings.

Public school districts sought bond authorizations in January totaling $469 million, which topped an available state cap of $293.4 million.

Sources on the Hill indicate that whatever gets cut will come from that list. But that doesn't mean that everything on the list is going to get cut.

While the new tax policies should address the state's projected deficit, rating agencies are cautious about the projected revenues and federal spending on Medicaid, which could impact Louisiana.

Fieldman, Rolapp & Co. has acquired Orem, Utah-based municipal advisor G.L. Hicks, a healthcare finance specialist.

Among the materials for lawmakers is a new report estimating the tax exemption saves issuers $824 billion through 2035.

The muni market saw a record $507.585 billion of debt issued in 2024, up 31.8% from $385.061 billion in 2023, according to LSEG data. 

The top 10 advisors accounted for $249.421 billion of par or 59.3% of the total issuance with municipal advisors.

New York boasts four of the top 10 issuers, followed by California with two and one a piece for Florida, Massachusetts, Washington and New Jersey.

With losses expected to be measured in the tens or hundreds of billions, the municipal finance industry begins to take stock of the Los Angeles-area wildfires.

The state will try to convince the rating agency to lift its debt to AA, to match the rating others have assigned.

It could be the year's largest unrated municipal bond deal.

S&P Global Ratings downgraded Chicago's general obligation debt to BBB from BBB-plus, saying the 2025 budget fails to address a structural imbalance.