Speculative grade bonds

The speculative grade bond sale is part of the financial process of returning the Phoenix-based university to nonprofit status after years as a for-profit.

The government is also hoping an outside company will take over the Limetree oil refinery in St. Croix.

Moody's says Guam needs to be ready to respond to shortfalls.

The fight between the governor and the legislature over control of the beleaguered utility is heading to the local Superior Court.

An influx of investment into high-yield munis has created challenges for fund managers forced to compete against each other to get in on new bond offerings.

The authority succeeded in selling unrated bonds to take out CCC-rated bonds.

A speculative-grade deal to build on-campus housing at Santa Rosa Junior College is a first for a conduit issuer operating out of the State Treasurer's Office.

His bill follows unsuccessful efforts by the territory's Senate to increase oversight of its Water and Power Authority.

The hiring of an underwriter moves the city closer to a debt restructuring that is called for in a legal agreement with holders of defaulted bonds.

Preliminary yields in the offering memorandum show spreads of 112 to 169 basis points over triple-A benchmarks, substantially lower than spreads seen in a successful speculative grade PRASA refunding in December.

High-yield municipal bond returns are more than 6% so far in the year as Nuveen expands its reach in the sector with a new "interval" high-yield fund.

Limetree Bay Energy, the U.S. Virgin Islands' largest private-sector employer, was an important source of government revenue.

Gov. Bryan vetos bill that would have brought in a turnaround company to determine WAPA's status.

Guam’s tourism has been hit very hard by COVID-related travel limitations, but the government should be able to get through this period with approved federal aid and the continuation of federal military construction.

A majority of the USVI Senate are sponsoring a bill to give the Public Services Commission near total control over the islands' financially troubled water and power authority.

The junk-rated school district won an upgrade and saw its secondary bond market spreads narrow as it expects to pocket about $1.8 billion in new aid.

Fitch Ratings warns that mounting challenges posed by ratepayers of Missouri's Howard Bend Levee District put its 2005 bonds at greater default risk.

The Motor City's spread penalties were reduced by more than half compared to its previous sale in October in a deal that was oversubscribed by 20 times.

The junk-rated district that is managing the COVID-19 pandemic's fiscal impact with the help of federal relief trimmed spread penalties as investors were drawn to the extra yield offered for the junk paper.

Federal COVID-19 relief aid cushions the district's balance sheet but labor, state budget, and pension woes remain.