Public finance

S&P Global Ratings dropped New York's Metropolitan Transportation Authority to A from A-plus, its second downgrade of the agency in five months.

Puerto Rico issues rallied after the central parties reached a deal concerning Puerto Rico Sales Tax Financing Corp. bonds.

The future of a proposed 10-story waterfront building could be riding on the City Council's decision on a $1.12 million bond.

The legislation, which aims to curb the effects of app-based for-hire vehicles on city streets, may lead to a congestion pricing framework.

Mark Paris and Stephanie Larosiliere of Invesco are optimistic on technicals in the municipal bond market given the length of this business cycle. John Hallacy is host.

The Puerto Rico Oversight Board, the government of Gov. Ricardo Rosselló, COFINA senior bondholders’ representatives, COFINA subordinate bondholders’ representatives, and bond insurers agreed to the deal.

A draft of the plan in early July indicated that 71.3% of the funding was to come from the federal government.

Short term gains would be overshadowed by long-term risks, according to Municipal Market Analytics.

Municipal CUSIP requests declined in July after four straight months of volume increases, suggesting a slowdown in issuance ahead.

The Moody's upgrade comes as the city is exploring a privatization of the Lambert airport.

City officials said splitting housing and infrastructure requests into two measures will improve chances of passage.

The NYC Council has approved up to $500 million of bonds to back an additional financing by the Hudson Yards Infrastructure Corp

The municipal bond market saw more supply hit the screens on Wednesday, topped by New York City’s big general obligation bond offering.

A conduit issuer that Florida created as an alternative to public-private partnerships is readying its first appearance in the market.

The governor vowed to disobey Swain’s order, which he said would end Christmas bonuses or lead to "massive layoffs."

The county will sell $150 million of sales tax-backed paper, already rated AAA by S&P.

New York, Wisconsin and California issuers priced bonds as investor demand continued to support municipal debt, analysts and traders said. Deals ran the gamut from high-grade to high-yield.

November's election includes two measures asking voters in the Washington city to approve $572 million of debt.

Consumer credit increased by $10.2 billion in June to $3.908 trillion, the Federal Reserve reported Tuesday.

The authority received upgrades from Moody’s on its two variable rate debt issues backed by bank letters of credit.