Natural disasters

Moody's Investors Service downgraded one public electric utility and assigned negative outlooks to three after reviewing potential wildfire liability exposure.

The Senate on Wednesday debated a $13.45 billion disaster aid bill that would require Puerto Rico to assume a local share of additional FEMA aid rather than the 100% federal share in a bill passed by the House.

Gov. Phil Murphy signed into law a bill enabling municipalities to create utilities to manage stormwater runoff.

Midwest Fertilizer Co. announced Monday it has settled with the IRS Office of Appeals an audit that originally disqualified the tax-exempt status of $1.259 billion of refunding bonds that will be used to help finance a fertilizer plant in Posey County, Indiana.

The Chapter 11 filing creates uncertainty for the state and localities where the utility operates.

Moody's dropped to Caa3 a pool of pension obligation bonds likely to be dragged down by wildfire damage to Paradise, California.

Amid bankruptcy talk about the investor-owned utility, the fate of its $18 billion in corporate bonds could impact the municipal bond market.

Bitvore Corp. is offering analysts and portfolio managers free updates on the impact of fires, hurricanes, and earthquakes.

Tom Doe, president of Municipal Market Analytics, attributes more of the market’s performance to algorithmic bidding, new revenues — such as sport wagering — and natural hazards — such as coastal retreat. John Hallacy is host.

The deadly Camp Fire left Paradise, California, in ruins, raising questions about the town's future and whether it can pay its debts.

Sergio Marxuach and other officials of the nonpartisan, San Juan-based Center for a New Economy said federal spending on disaster recovery has been slower than in other areas also struck by hurricanes in 2017.

Hurricane czar Alan Rubin of Blank Rome discusses the financing of resilience and recovery from extreme weather. Paul Burton hosts.

Included in the FAA reauthorization package is $1.68 billion in supplemental disaster funding that would help cover the cost of recovery and rebuilding from Hurricane Florence last month.

Congress could pass legislation authorizing advance refundings and liberalizing private activity bond restrictions to aid in disaster recovery, NABL said.

Most of the damage caused by the region's many summer blazes has been contained to wildlands.

S&P Global Ratings looked to 2017's California wildfires to understand the credit implications of this year's blazes.

An estimated $69.1 billion of the $139 billion is already committed through a combination of insurance claims and federal disaster aid.

Federal disaster relief mitigates the credit impact of fires and other catastrophes, rating agencies say.

Though fires wreak havoc causing property damage and loss of life, the hit to local economies — and their bonds — tends to be ameliorated by state and federal funding.

Moody's Investors Service deemed the state's strong May tourism numbers a credit positive.