Toll revenue bonds

S&P revised the outlook for the Maryland Transportation Authority's outstanding revenue bonds to negative from stable due to the timing of the federal funding needed to rebuild the Francis Scott Key Bridge that was damaged by a cargo freighter in March 2024.

The FHWA said it would start withholding project funds from Manhattan next month and later expand to other areas if the state refuses to halt its tolling program.

Fourteen percent of the state bills would create an electric vehicle fee, and Republicans in Congress have floated their own national EV fee to shore up the Highway Trust Fund.

The San Joaquin Hills Transportation Corridor Agency tapped reserves to make early bond payments saving $203 million. It's parent agency, the Transportation Corridor Agencies, hopes to save $1.79 billion with additional early pay downs by 2030.

The turnpike authority brings a $1.3 billion new and refunding bond deal to market this week after a toll hike sparked a spate of bills to rein in its powers.

After selling $500 million of revenue bonds in 2023, the turnpike authority could return to the market later this month with a $1.3 billion issue.

After years of delays, the Metropolitan Transportation Authority on Sunday launched the new toll on traffic entering southern Manhattan.

Prolific debt issuance by Texas school districts, state issuers, and others drove muni volume to a state record in 2024, easily surpassing 2023's $59 billion.

The Metropolitan Transportation Authority's finance committee approved $9 billion of bonds, some backed by new revenue sources.

The action was taken ahead of a bond sale for a controversial 15-year expansion program that is currently estimated to cost $8.2 billion up from $5 billion.