Public finance

The bond trustee for the city of Nevada, Missouri-owned Nevada Regional Medical Center declared its bonds to be in default.

Fitch Ratings downgraded the private-activity bonds supporting LAX's people mover bonds to junk, but said they could fall lower if the airport doesn't reach an agreement on delay concessions.

The Education Finance Council is seeking clarification on bond rules related to student loans.

Biden administration officials have indicated they will not be appealing the Eleventh Circuit's decision allowing states to use ARPA funds to offset tax cuts to the Supreme Court.

Maggio joins KeyBanc from Hilltop Securities, where he was co-head of capital markets.

The goal behind SOLVE's new product is to turn raw data into data-driven insights through AI, with munis being the first step before expanding to other key asset classes in fixed income, said Eugene Grinberg, co-founder and CEO of SOLVE.

California voters will weight a $6.4 billion bond measure in March that redirects money from an existing millionaire's tax supporting mental health programs.

The primary saw strong demand with the Triborough Bridge and Tunnel Authority doubling the size of its deal to $1.6 billion.

The new legislation does not include a SALT cap adjustment, though some lawmakers had been holding out for one.

Financing for the $2.1 billion Calcasieu River bridge includes a mix of state funds, federal grants and bonds, which will hit the market in early April.

The court is considering whether the original PREPA trust agreement gave bondholders a lien on all revenues, which they argue should extend beyond the debt restructuring, or only on the money the authority deposited in its reserve fund.

"We're going to be opportunistic based on what the market conditions are and what the interest rate environment is," said Ben Watkins, director of the Florida Division of Bond Finance. "We like to be like Boy Scouts — we always want to be prepared."

Fed Chair Jerome Powell said cuts are likely this year but are not guaranteed. He added that the Fed is looking for more signs that inflation is moderating. "We are prepared to maintain the current target range for the federal funds rate for longer if appropriate."

Bonds sold through conduit debt issuer Arizona Industrial Development Authority are involved in Chapter 11 bankruptcies filed over the last year.

Issuance for the month is slightly above the $27.666 billion 10-year average, according to LSEG Refinitiv data.

The city is looking for "a diverse group of qualified firms with varied strengths and market advantages" to "provide the most cost-effective distribution."

Fitch Ratings recently downgraded Marshfield Clinic Health System, a nonprofit group of 11 hospitals in central Wisconsin, to BBB from BBB-plus.

With its cash balance eroding due to a budget imbalance, the university, under the watchful eye of Arizona's governor, will undergo system-wide changes.

"Yields are attractive, and there's going to be a lot of demand and there's not going to be a lot of bonds," said Scott Diamond, co-head of the municipal fixed income team at Goldman Sachs.

Moody's Investors Service cited thinning operating performance for the downward outlook revision.