Public finance

SRI International had its outstanding bonds downgraded to Baa1 because of its exposure to declining federal grants.

C. Christopher Trower was the lead attorney before the Supreme Court in a case that upheld states' rights to preferential tax treatment of their own bonds.

The Regents of the University of California will sell $2 billion of bonds next week after yanking a $1.5 billion summer deal amid Trump administration threats.

Robust issuance this year has contributed to muni underperformance relative to other asset classes, but it also has "improved after-tax relative value for investors in higher tax brackets," said Sam Weitzman of Western Asset.

Race and sex-based preferences were removed from the state's Historically Underutilized Business program, which will focus exclusively on veteran-owned firms.

As South Dakota becomes the latest Midwest state to consider property tax reform, some officials are scrutinizing school districts more closely.

Dozens of lawmakers are bailing out of Congress before the midterm elections adding new wrinkles to the fading possibility of a second budget reconciliation which could require revenue raisers detrimental to the muni market.

The Local Government Commission approved bonds for Raleigh, Duke University Health System and Deerfield Episcopal Retirement Community.

The roster change comes as the powerful committee tackles the next surface reauthorization bill.

The revenue bonds will fund highway improvements expected to spur economic development in West Alabama.

The muni market is dealing with elevated supply this week and secondary flows have "reacted in tandem," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

Fortress Investment Group bought the property in 2021 after it was largely destroyed by Hurricanes Irma and Maria and financed a major renovation that featured reinforcement standards designed to protect against a category 5 hurricane.

After selling $260 million of voter-approved bonds for the project, county officials are eyeing a sales tax ballot measure in 2026 to cover the higher cost.

The county treasurer's new report describing large hikes in Chicago residential tax bills effectively takes property tax hikes off the table for the city.

The transaction, which supports the Navajo community in Ganado, Arizona, represents a major landmark in furthering Native American health care infrastructure, overcoming hurdles tribal governments typically face in issuing municipal debt to open a replicable path to market other indigenous health systems can follow.

This movement comes on the heels of muni yields remaining relatively unchanged throughout November.

City Council President Jean-Paul Morrell said Mayor LaToya Cantrell had engaged in a "breathtaking abdication" of her job.

A New York state board advanced three proposals to build casinos in New York City, two in Queens and one in the Bronx.

The toll road agency's financial and other practices were targeted in a November legislative study, which could lead to another round of reform legislation.