Sell side

San Francisco's "tepid" recovery from the pandemic was cited by Fitch.

The bank's termination of its membership in the Net-Zero Banking Alliance ended a state review that could have led to a ban for governmental contracts.

Indianapolis-based Sycamore Advisors is building its quantitative muscle with two new experienced municipal finance hires in New York: Peter Orr and Ching Yin.

Moody's cited heavy reliance on reserves, potential for continued operating deficts, and a fall 2024 decline in enrollment as factors in the downgrade.

Most on the Street expect issuance to come in around $500 billion, but a few think volume will be much higher, primarily because of potential changes to the tax exemption. Most firms expect refunding volumes to also grow in 2025.

George Joseph McLiney, Jr. founded municipal bond underwriting firm McLiney and Company. He was devoted to his family and small issuer clients.

JoAnne Carter, managing director and president of PFM, will succeed Hartman as CEO.

"If the GOP wins the House, the specter of risk to the municipal bond tax-exemption will increase," said Edwin Oswald, a tax partner at Orrick Herrington & Sutcliffe in Washington D.C.

The Philadelphia-based university straddles the higher education and healthcare sectors, but market demand suggests it's greater than the sum of its parts.

Observers say the decision may be a credit positive for the financially struggling utility