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.

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.

The Public Service Commission said it will reconsider rates at its August meeting.

The U.S. territory is struggling with debt and pension liabilities as its economy remains weak and federal aid is cut back.