Public finance

J.B. Pritzker on Wednesday signed Illinois' $53.1 billion fiscal year 2025 budget, which includes $198 million for the rainy day fund, among other things.

A $345 million taxable bond deal will support the public-private partnership arrangement that will upgrade the College Park campus district energy system.

The system, trustee and bondholders of about $992 million in debt are supporting an exchange of "substantially all" existing bonds, a disclosure statement said.

As the public finance landscape evolves with increased philanthropic interest and a focus on climate resilience and community health, it's time for traditional market participants to align their investments with impactful outcomes to drive systemic change and foster equitable growth.

"The shortage of accountants is not a brand new-issue, but it seems to be more thematic this year," said Richard Ciccarone, president emeritus of Merritt Research Services.

Municipal bond mutual funds saw inflows as investors added $549.2 million after $94.9 million of outflows the week prior, according to LSEG Lipper.

Infrastructure projects no longer have to be included in a state's transportation plan to be eligible for a TIFIA loan.

The center, at the University of Chicago's Harris School of Public Policy, added six people with municipal finance experience to its board of advisors.

Observers say the problems of KentuckyWired has lessons for all public-private partnerships.

Issuance remains robust Wednesday with an estimated $5.9 billion, said J.P. Morgan strategists led by Peter DeGroot.

Shailen Bhatt, administrator for the Federal Highway Administration, said his agency is working to play catch up on initiatives as diverse as rebuilding Baltimore's downed bridge and building electric vehicle chargers.

Legislative leaders want the Super Bowl-winning Kansas City Chiefs to weigh in on a plan to use bonds for a new stadium on their side of the state line.

St. John's Lutheran Church in Madison is redeveloping its property to build affordable housing blocks from the Capitol in the booming East Washington corridor.

New-issue volume has topped $50 billion over the past few weeks, said AllianceBernstein in a weekly report.

The project will expand the plant's capacity from 75 million gallons per day currently to 100 million gallons to serve a growing population.

Falling occupancy figures, staffing shortages, and rising labor costs have elevated the sector's risk, with Greenwich Investment Management's bankruptcy yet another example of how the sector requires thorough credit analysis.

This week's surge in issuance, which tops $14 billion, is "likely going to keep a lid on any enthusiasm," Birch Creek strategists said in a weekly report.

The American Public Transportation Association is looking for $42.5 billion in rail funding.

The WAPA board of directors says it is looking for a replacement who would start on July 1, when Andrew Smith says he will depart.

Connecticut's GO deal is expected to benefit from its improving fiscal reputation, embodied in two rating outlook revisions to positive ahead of the pricing.