Public finance

McKinney, Texas, is fighting a challenge to a refunding of sales tax-backed bonds sold for a commercial airline service project at its general aviation airport.

The drought-stricken Texas city's utility system rating was cut two notches to A, marking a continued downward trend in its credit quality.

PFM sees the expansion as a way to strengthen its position.

Months after the state cracked down on cities' tardy annual financial audits, adherence to a statutory filing deadline is improving with fiscal 2025 reports.

SWBC's Chris Brigati said he doesn't expect the geopolitical tensions to cause similar losses to muni yields unless oil prices or Treasury yields move significantly higher.

The ratings agency cited the school's compressed operating margins in recent years.

Allen Hoppe, the director of banking, investments and debt for the city of Minneapolis, retired on Friday after a long career in public finance.

The biggest-ever bond referendum in Texas was passed Saturday for Dallas schools, while voters in only one city chose to leave Dallas Area Rapid Transit.

With continued geopolitical tensions and surging oil prices, things could change on a dime, said Sweta Singh, founding partner and portfolio manager at City Different Investments.

In addition to building a new patient tower dedicated to cancer care, the bonds will refund nearly all of Dana-Farber's outstanding debt.

Munis were quiet on Friday after an eventful April.

Brightline Florida's financial statements for 2024 and 2025 by Ernst & Young LLP, filed Thursday on the Electronic Municipal Market Access website, warn that the company lacks the cash to cover pending debt payments

Moody's Ratings revised Missouri's outlook to negative from stable, citing a large structural deficit that will push fund balances below its Aaa-rated peers.

The bonds are rated A1 by Moody's Ratings, A-plus by S&P Global Ratings and AA by KBRA.

Municipal bond issuance was $47.6 billion in 797 deals for the month, down 7.8% year-over-year but still the third-biggest April in history.

The department has hit its $30 billion limit on transportation private activity bonds and there's a large pipeline of public-private partnerships across the country.

Investors are digesting developments in the Middle East and the Fed's decision not to cut rates, according to FHN Financial's Ajay Thomas.

Guam is diversifying its economy beyond tourism and the military, Gov. Lourdes Leon Guerrero said.

"We do good work," said Mike LaPierre, president of GPM Municipal Advisors, which acts as advisor and staff to the Public Finance Authority and the California Community Housing Agency.

The average muni bond trade size fell below $204,000 in the first quarter, down 5% from 2025, according to Municipal Securities Rulemaking Board data.