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Detroit's proposed plan of adjustment to deal with its $18 billion debt load is feasible, the municipal finance expert witness hired by the federal bankruptcy court to assess the plan believes.
July 21
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The ailing Highway Trust Fund needs a long-term answer, not another short-term patch, says Transportation Secretary Anthony Foxx
July 21
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Amid heightened demand for municipals and volume estimated to remain around $5 billion this week, competitive sales will dominate new-issue activity with a pair of Maryland general obligation offerings and an Alabama GO sale.
July 20
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The Detroit Institute of Arts has raised 80% of the $100 million it pledged to contribute to Detroit's underfunded pension debt.
July 18
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The $11 billion, 10-month legislative bailout of the Highway Trust Fund adopted overwhelmingly by the House would stymie the best chance for a long-term solution for transportation funding, according to most industry experts.
July 18 -
The District of Columbia Water and Sewer Authority will close on about $450 million of debt July 23, most of it in the form of a historic green century bond issuance that DC Water's chief financial officer is crediting with introducing new investors to the large, frequent issuer.
July 18
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One year after Detroit filed for bankruptcy, muni experts said the city's approach should set a precedent for how not to manage a distressed workout, and that they've learned to throw out many traditional assumptions and beliefs about the treatment of bond debt in Chapter 9.
July 18
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The Bond Buyer's muni bond indexes were mixed in the week ending July 17.
July 17 -
President Obama announced a new federal effort to connect local governments with private investor partners in transportation infrastructure projects during his visit Thursday to a shuttered bridge in Delaware.
July 17 -
After generating historic inflows last week, tax-exempt money market fund flows returned to negative territory as they lost $1.94 billion and total net assets settled at $256.82 billion in the week
July 17
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The House adopted a 10-month, $10.8 billion short-term fix for the almost insolvent Highway Trust Fund.
July 15
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The 6th Circuit Court of Appeals set an accelerated two-week schedule to consider bond insurer Syncora Guarantee's appeal of a key decision in Detroit's bankruptcy case.
July 15
