Munis

Federal threats to grants and the tax exemption continue to push universities to the bond market. This week, it was MIT, Yale, and Suffolk University's turn.

The Commercial Metals Company and the West Virginia Economic Development Authority took a chance by coming to market with a tax-exempt $150 million junk-rated private activity bond sale financing a scrap metal steel mill during uncertain times for the construction industry.

The bonds have not reacted to the most recent negative ratings actions, although one buysider said that may soon change.

The top five April bond financings totaled more than $8 billion.

The downgrade pushes $2.2 billion of private activity bonds issued for the passenger train startup though the Florida Development Finance Corp. to junk.

Harvard University's ongoing legal battles and the return to market by Chicago's Regional Transportation Authority lead a host of municipal topics in April.

The Illinois Municipal Electric Agency plans to sell $600 million of refunding bonds in July, amid questions about member contracts after the bonds' maturity.

Levy, a member of The Bond Buyer's Rising Stars Class of 2017, assumed the role of chair in late April.

The U.S. Department of Transportation rolls out $3.2 billion via 329 infrastructure grants that will fund more than 3,200 projects that the agency contends were tangled up in red tape and DEI requirements.

Legislation would overhaul Dallas Area Rapid Transit's financial structure in a way that could impact outstanding debt and derail bonds for Austin light rail.