Public finance

Republicans have repeatedly criticized the California high-speed rail project as a waste of taxpayer money.

Fitch Ratings has raised the Turnpike Authority's ratings to BBB-plus from BBB and assigned BBB-plus ratings to the Series 2024 A&B senior lien turnpike revenue bonds and Series 2024 subordinated TIFIA loan.

The $1.7 billion financing included Chicago's first social-designated bonds and a cross-credit refunding tender and addressed initiatives related to affordable housing and community development.

"This week's new issue calendar should be well received," said Anders S. Persson, Nuveen's chief investment officer for global fixed income, and Daniel J. Close, Nuveen's head of municipals.

The budget proposal keeps $16.3 billion in reserves and pays down an additional $455 million in debt. While providing $1.1 billion in tax relief to residents, the plan is $4.6 billion lower than the current fiscal year's budget.

The decision by the District of Columbia-based U.S. Appeals Court will officially vacate the Surface Transportation Board's environmental approval for the project.

"Disney has abandoned its fiduciary responsibilities to its investors and customers by joining far-left activists in boycotting legal, taxpaying, employment-creating corporations to further Disney's political agenda," state Treasurer Curtis Loftis said.

Cities and states are eligible to apply for the program, which gives eligible solar and wind facilities in low-income areas increased investment tax credits of 10% or 20%.

Judge says U.S. municipal bonds are less secured than people thought.

A new deal with Microsoft may help fill the void left by the underperformance of a Wisconsin incentive deal to lure Foxconn to the village of Mount Pleasant.

With a high of $450 billion and a low of $330 billion, no firms currently see issuance surpassing the records hit in 2020 and 2021.

This week's $9.4 billion calendar "should easily be absorbed as it is set to be the last full primary calendar of the year, given the Fed meeting the following week and then Christmas and New Year's holidays," Birch Creek Capital strategists said in a weekly report.

The delays have led to a technical default by the design-build contractor on the $450 million project to design, finance, build, operate and maintain the Thruway's 27 service areas.

The City Colleges of Chicago is planning to issue $201 million in unlimited tax GO refunding bonds, bolstered by an upgrade and a new positive rating outlook.

The College of Saint Rose, a private Roman Catholic school in Albany, said Friday it plans to close after this academic year.

Court-approved asset sales and bond exchanges are pushing a participant sports venue, a hospital, and a senior living community closer to exiting Chapter 11.

Moody's Investors Service revised its outlook to positive from stable and affirmed its Aa1 issuer and general obligation unlimited tax bond ratings on the city.

Moody's, which last rated the state triple-A in 1979, pointed to an economy that's "poised for diversification and growth."

Pennsylvania leads the new-issue calendar with $2.1 billion of GOs in four series via the competitive market while the New York City TFA will bring another $1.4 billion of exempts and taxables.

Bond parties to challenge Judge Swain's ruling saying they do not have a lien on revenues, among other things.