Public finance

The twin Transportation Corridor Agencies issuers in Orange County, California, received Fitch Ratings upgrades for fiscal prudence and bond buydowns.

The SEC charged two entities with violating federal securities laws by advising clients on municipal bonds without properly registering as municipal advisors.

The Delta Center hockey and basketball venue will be renovated with proceeds from the $900 million Downtown Revitalization Public Infrastructure District deal.

Issuance this week soars to nearly $17 billion, and investors are "bracing for another hefty serving the following week," said Birch Creek strategists.

The Puerto Rico Oversight Board asked Judge Laura Taylor Swain to rule now and move quickly to disclosure and confirmation hearings.

"These are the types of products that financial advisors are asking to see from us," said First Eagle's John Miller.

As bond issuers and the infrastructure industry ponder a post-BIL future, some look to Europe for how P3s and privatization could help spur investment and raise grades on the infrastructure report card.

Primary bond market volume was up 3.6% year-over-year to $49.9 billion, according to LSEG data.

The Indiana Financing Authority is the biggest entry on 2025's largest negotiated calendar with $1.5 billion of Indiana University Health system revenue bonds.

The $44 million of unrated bonds, placed only with qualified investors, feature 9.5% coupons.

Main Street Natural Gas, a blended component unit of Georgia Gas, issues most of the authority's debt.

A new law lifts the revenue bond cap for the Grand River Dam Authority to $3.6 billion from $1.41 billion

UMB hired 13 people from Wilmington Trust, and opened an Orange County office, to expand in municipal and corporate trustee, escrow and paying-agent services.

With higher yields and ratios, many participants say investors should be taking advantage of current levels.

Chicago goes to market next week with $517.95 million of taxable and tax-exempt general obligation bonds following a downward outlook revision from Fitch.

The cut to the American Dream mall's assessed value is a warning sign to bondholders whose debt payments are tied to how much the property is worth.

This is the first time the Georgia Housing and Finance Authority is bringing a PAC tranche in several years.

When Chicago barred media from its investor conference, it told journalists the policy aligned with peer municipalities' practices. The facts are less clear.

Supply has weighed on munis to some extent over the past few weeks, as week after week issuance tops $10 billion, said Jeremy Holtz, a portfolio manager at Income Research + Management.

Controller Chris Hollins raised several concerns about the mayor's $7 billion budget for the fiscal year that begins July 1, including its use of reserves.