Speculative grade bonds

The rating action affects $423 million in bonds and certificates of participation. The territory's issuer rating was affirmed at speculative-grade Ba1.

The bill's sponsor pointed to board members' need for expertise.

The $250 million in debt being issued for Montana Renewables is equal to nearly half the state's issuance for last year.

Governance decisions and rapidly escalating deficits contributed to Moody's decision to cut Illinois Tech's rating two notches to speculative grade.

The authority's issues hamper the USVI economy, Gov. Bryan says in his state of the territory speech.

These would be the territory's first general obligation bond issuance since 2019.

The government has reached a settlement with the estate of Jeffrey Epstein.

The authority said it expects production problems and higher costs in the near future.

The financially distressed utility has less than two weeks to find a substitute supplier of 80% of its fuel.

The goal is to reduce energy costs and exposure to energy price spikes.

But governor and an analyst caution about appropriating "excess revenues" before an audit.

Moody's says the cut is a credit negative for the U.S. Virgin Islands' matching fund bonds.

The pension system has sued WAPA demanding immediate payment of more than $2 million in employee contributions.

She expects $50 million more in revenues in fiscal 2023.

Incumbent Gov. Albert Bryan Jr. will face Sen. Kurt Vialet in a gubernatorial general election in November.

Ownership issues seem to be worked out, more or less, but reopening the refinery remains in doubt.

The board also approved a rollover of bond anticipation notes because it doesn't have access to the bond market.

After next fiscal year, the governor expects both revenues and spending to increase.

While expenditures also grew, revenues came in 4.5% higher than projections and were higher than the authority's cost growth.

Analysts agree with Moody's that the island still faces financial risks.