Public finance

The Citizens Property Insurance Corp. wants to have a successor selected before the Florida Legislature convenes its new session in March.

Debt outstanding at state and local public entities totals more than $329 billion, an increase of $61.5 billion since 2017, according to a report by state comptroller Thomas DiNapoli.

Jenine Windeshausen specialized in creating innovative bond transactions during three decades with Placer County.

"A fade in muni prices came on the heels of sovereign debt actions, leaving ratios subject to some correction with just a few sessions remaining in 2022," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

"I'm thrilled to have that opportunity to join the team," Patrick McCoy says. "It's a very important project with regional implications. To be part of that team is going to be very exciting."

Arizona's second-largest city reported general fund surpluses in recent years, easing structural budget balance concerns that weighed on its ratings, Fitch said.

The state's benchmark debt ratio for debt service to revenue is at 3.78% — well below a 6% target and 7% limit.

Secondary selling pressure was concentrated most heavily on the one-year Tuesday, but sellers pushed yields higher across the curve by five to seven. Bids wanteds were on the rise again with Monday's total hitting $2.122 billion.

Branding experts argue against ditching ESG. Instead, they say, the finance industry needs to better explain what ESG is.

Nebraska's largest city plans to finance the downtown streetcar project with a mix of tax increment financing and lease purchase revenue bonds.

"Yield levels are now notably higher throughout many sectors of the yield curve by a number of percentage points," said Morgan Stanley strategists Matthew Gastall and Daryl Helsing.

Bondholders say the Oversight Board's offer is less than it was a few weeks earlier.

The highly-rated city wants to pursue general obligation bond programs every five years to fund capital projects for its growing population.

"This week will likely have been the last active week of the year, but it turned out to be quite eventful," according to Barclays PLC.

The clock is ticking on Congress waiving PAYGO for Build America Bonds, a budget bear trap that could delay promised subsidy payments totaling $14 billion to issuers.

Sixteen Republicans joined all Democrats to vote in favor of the binding plebiscite.

Battery Park's flood-proofing projects are part of New York City's larger strategy to protect itself from the next big storm.

Outflows returned as Refinitiv Lipper reported $1.217 billion was pulled out of municipal bond mutual funds for the week ending Wednesday after $46.912 million of inflows the week prior.

Must-pass spending bills and a debt ceiling fight are in the near future.

As rising interest rates take pension obligation bonds off the table, city finance managers are looking to other methods to manage unfunded pension obligations.