Politics

S&P Global Ratings revised its outlook on the university's debt to negative a month after Moody's Ratings took similar action as the school faces financial difficulties and management changes.

The snub could become more important next year when Tax Cuts and Jobs Act provisions expire and tax issues take center stage at Congress.

In "my nearly 50 years in finance, I've never seen more demand for energy infrastructure," BlackRock CEO Larry Fink said in his latest investor letter.

Fitch Ratings analysts, who downgraded the bonds to junk in January, said they continue to monitor progress on the airport's automated guided rail system.

The ISM report "feeds into the narrative coming out of last week," whereby the economy's resilience enables the Fed "to be patient," said Gregory Faranello, head of U.S. rates trading and strategy for AmeriVet Securities. For the bond market, that means rates stay "higher for longer."

After decades of underinvestment, Pennsylvania is launching two new grant programs to help schools fund facility improvements. These grants, the state hopes, will encourage districts to spend more money of their own.

Hawaii Gov. Josh Green outlined the state's plan to permanently house everyone displaced by the fire — and how he plans to pay for it during a media briefing.

D.C. promises $515 million in improvements to its existing downtown arena.

Under the proposed deal, the city would sell $650 million of judgment bonds to fund back pay for firefighters, whose wages would increase by up to 34% over the life of a new five-year contract.

Gov. Spencer Cox wrapped up action on hundreds of bills passed by lawmakers, including measures to boost or limit bond issuance and potentially put some outstanding debt at risk.

The compromise spending bill signed into law by President Biden keeps the government open, but whether that success is a sign of future cooperation isn't clear.

"The risks to achieving our employment and inflation goals are moving into better balance," Cook said.

The initiative proposed by business interests would amend California's constitution to prevent the state from approving tax increases without a two-thirds majority vote of the Legislature and voter approval.

To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.

The Washington refunding deal is built on an extraordinary optional redemption of Build America Bonds despite criticism from investors who hold them.

States' January revenues were down from a year earlier.

The deal announced by Mayor John Whitmire last week would end an eight-year-long impasse with the firefighters union and require $650 million of judgment bonds.

Broker-dealer advocates believe the agency is over-regulating the industry.

The securities industry accounted for roughly $28.8 billion in state tax revenue and $5.4 billion in New York City tax revenue for fiscal 2023, state Comptroller Thomas DiNapoli estimated.

Laws banning banks from underwriting municipal bond deals because of their fossil fuel or firearm policies dramatically boosted underwriting spreads, a business group's study said.