Speculative grade bonds

The financing challenges facing both Brightline projects have translated into falling bond prices.

Investors sued after the fund's sudden June selloff.

A six-notch downgrade gives the financially troubled city a non-investment grade rating of BB-plus with a negative outlook.

Carving up risk allows buyers who normally shy away from junk bonds to buy the pooled securities.

A group of bondholders are floating fresh financing to a bankrupt metals recycler that elevates their bonds above other holders.

Chicago Public Schools plans to return to market with $650 million of Series 2025A unlimited tax general obligation bonds.

"We are expecting a lot of interest in the offering next week," said Geoff Urbina, managing director, KeyBanc Capital Markets Public Finance.

"Another set of eyes helps improve the deal for everybody, including the borrower, because the borrower is going to want a successful venture too," said John Miller, head and chief investment officer of First Eagle's municipal credit team.

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.