Speculative grade bonds

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.

The first public bond issue from Everglades College, Inc., will finance projects on the institution's Keiser University flagship campus in West Palm Beach.

The selloff highlights the lack of accurate pricing and credit information across the speculative-grade muni market.

The rock-bottom prices show the risks of a high-yield market where liquidity is famously limited.

The U.S. Virgin Islands WAPA said the Public Service Commission's reduction of electric rates jeopardizes its ability to pay bills and provide electric service.