Public finance

The muni market recorded its fourth straight month of positive returns in November and December is likely to keep the streak going with another strong month to round out the year.

Sterling College is one of 10 federally recognized work colleges, a designation that means students are required to work as part of their courses.

November volume was $38.487 billion, up 51.1% from $25.47 billion in 2024. This is above November's 10-year average of $33.743 billion.

King County, Washington plans a $422.2 million competitive sale of limited tax general obligation bonds for Wednesday.

The new debt is a "bridge loan" until the company can raise fresh financing, a bondholder said.

The deal combined the benefits of a green designation with a massive, highly visible airport project.

Preliminary November issuance figures are at $37.054 billion, up 45.5% year-over-year, according to LSEG.

Bond issuers in the water sector are concerned about a reduction in WIFIA loan closings as some point to competition from municipal bonds as a cause for a decline in their popularity.

22 municipalities are suing the state over vehicle-license fees they say California has failed to pay them.

Moody's cited narrowing financial flexibility and declining debt service.

Moody's Ratings has put McLaren Health Care Corporation's A1 revenue bond ratings under review for downgrade after Indiana ended a key Medicaid contract with the company.

Wisconsin's February deal introduced a fixed spread tax-exempt tender that saved taxpayers millions — and won The Bond Buyer's Deal of the Year award in the innovation category.

"Dealer inventories have grown heavier throughout [November], which could put pressure on the market if supply reverts to its weekly average of over $10 billion," said Chris Brigati, CIO and managing director of SWBC, and Ryan Riffe, SVP of capital markets at the firm.

Oakland touts financial turnaround with a $335 million bond sale ahead, despite negative credit outlooks.

The deal offers a better recovery than earlier deals but no principal payment for 12 years.

Legislation authorizing $1.5 billion of revenue bonds, along with fee and tax hikes, could return for a second try in 2026.

The funds supported new facilities and housing, helping address challenges Navajo Nation communities face, such as long-distance travel and limited access to health care.

The Kerrville Public Utility Board Public Facility Corp.'s bond sale and acquisition of a state loan for the project is a tale of perseverance.

"We do not expect any major weakness to take hold as the new issue calendar is beginning to dwindle with only two non-holiday or non-Federal Reserve weeks left in the year," said Birch Creek strategists.

The bill was co-sponsored by Rep. John Garamendi, D-Calif.