Public finance

While triple-As were little changed the past two sessions, some damage was done last week, leaving market participants generally less optimistic for the final weeks of August.

The restructuring would make bondholders whole, but the bonds' maturities are being pushed out by 25 to 35 years.

Air travel and airport bond ratings are showing strong recovery, data shows, with international passenger travel leading the surge.

American Advanced Management signed a letter of intent for a lease-to-buy agreement for Hazel Hawkins Memorial Hospital in Hollister.

Extending the tax, which expires at the end of 2025, would raise billions of dollars for transportation projects in the nation's fourth-largest county.

Moody's Investors Service upgraded the Connecticut capital city's issuer rating to Baa3 from Ba2.

Late summer is "rarely a good time for our asset class," Barclays strategists said, noting the municipal investment grade index lost money in August three years in a row, and 2023 seems to follow this trend.

Judge Swain approves another deadline extension for a proposed plan of adjustment.

"The limited scope of muni debt affected suggests a marginal impact on the muni market, if any," BofA strategists said.

The 1998 Master Settlement Agreement from the Big Tobacco companies offers a template, but experts say the structure of the opioid settlement differs in key ways when it comes to state and local governments spending the money.  

Though the city has vast financial strengths, it is struggling with the costs of housing migrants and declining commercial property values.

Municipal bond mutual fund saw outflows return with Refinitiv Lipper reporting investors pulling $989.852 billion from funds for the week ending Wednesday, led by ETFs and long-end funds.

The 50-year concession will rebuild the aging Calcasieu Bridge, and impose the first tolls on Interstate 10.

The revenue bonds were issued through the California Municipal Finance Authority on behalf of LAX Integrated Express Solutions, the P3 project developer.

While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.

Proceeds, along with additional monies, will be used to fund the cost of the Royal Caribbean Cruises Ltd. (RCG) campus project as well as a debt service reserve fund.

However another town is still struggling with issues that further threaten its already-strained viability while 14 local governments were designated as distressed under the viable utility reserve legislation.

The turnpike authority will now seek reapproval from the Oklahoma Council of Bond Oversight before it can head to the municipal bond market.

Most states continue to fare well, despite economic shocks and weakening revenue growth.

J.P. Morgan held a one-day retail order for $1.65 billion of revenue bonds from the Dormitory Authority of the State of New York, while Minnesota sold $1.02 billion of GOs in the competitive market in five deals.