Sell side

The pandemic's effect on public transportation has revived debate about the role of bicycles, ferries, in-city commuter rail and other alternative modes.

Chairman Patrick Foye said the designation will better position the authority to cope with the revenue loss from the coronavirus pandemic.

Primary market deals generated strong demand, and municipals were little changed in secondary trading.

Comptroller Kevin Lembo forecast a $620 million fiscal 2020 deficit in his monthly update to Gov. Ned Lamont.

Illinois said Tuesday it signed an agreement for the Municipal Liquidity Facility to purchase its one-year certificates. Closing is expected Friday.

The Wisconsin Center District deal provides some expansion financing and near-term debt relief after the agency was stung by lost conventions and tax revenue.

Joseph Pollock will be responsible for covering hospitals and healthcare systems across the United States.

The bill was set aside as state lawmakers limit legislation to the issues of housing, wildfires and coronavirus. Meanwhile, more cities and counties issue POBs.

Fitch Ratings affirmed its AA rating on the department's water system revenue bonds as it revised their outlook to negative.

With the latest federal rescue package stalled, New York's mayor has asked state lawmakers to authorize an additional $7 billion in bonding.

Investors, while confident long-term about the transit authority, worry about immediate risks, Chairman Patrick Foye said in a letter.

The offering of special tax obligation bonds comes as the state begins a four-phase reopening in its next response to the coronavirus.

Investors scooped up Illinois’ $800 million deal as the state dug deep into its pockets .

Bringing bond denominations down to $1,000 would capture goodwill from New York residents and transit riders, said Mitchell Moss of New York University.

Cheng, a six-year veteran of the rating agency, will be a senior vice president of Citi's Institutional Clients Group.

The mass transit authority cannot tap the Municipal Liquidity Facility directly, chief financial officer Robert Foran said.

Debt restructuring options as the transit agency navigates through the coronavirus crisis include refundings for savings or to push out debt, according to Robert Foran.

"This is undoubtedly the toughest time in MTA history," said Patrick Foye, who has asked Congress to double its $3.8 billion relief package.

The rating agency delivered the latest coronavirus-related hit to the city's ratings by cutting its outlook. The city's GO bonds were affirmed at AA.

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.