Speculative grade bonds

The largest investors in the Brightline Florida train have negotiated new terms ahead of an Aug. 13 repayment deadline.

Generous federal support is offset by a small and volatile economy, the agency said.

The risk Brightline Florida poses to the rest of the high-yield market may manifest in fund flows, investors said.

Some bondholders have retained legal counsel while others are in the dark about the company's plans.

Fitch said the train line's ridership and revenue ramp-up continue to lag projections.

Investors are watching an Aug. 13 refinancing on $985 million of bonds for proposed commuter line projects with southern Florida counties.

Columbia College Chicago was lowered one notch to BB-plus from BBB-minus by S&P Global Ratings, citing the school's falling headcount and diminished demand.

The fund's sell-off in June shows the challenges of accurate pricing in the high-yield muni market.

Once considered as a promising prospect for investors, "green" bonds have been plagued by defaults, a concern for those who study the underlying technologies.

Prices for some bonds issued for Florida's express train have fallen sharply since Friday.