Transportation industry

Driven by ongoing capital expenditure funding and current refunding opportunities, airport issuance is estimated at $21 billion in 2024, with a slew of from June through September and more planned in December, according to Ramirez.

The ratings agency cited growing enplanement counts, expectations of resilience during future economic downturns, and strong management for its upgrade to AA from AA-minus.

Moody's Ratings analysts revised the outlook to stable from negative on the expectation that states and locals will fill an $8 billion operations funding gap.

Co-authors of a bill to authorize a tax measure seen as crucial to Bay Area transit killed it amid opposition from multiple quarters.

California senators approved a tax measure to raise $1.5 billion after the bill's author promised further tweaks to occur on the Assembly side.

Indiana officials celebrated the completion of the first of three major commuter railway upgrades, which together represent the state's largest rail project.

High speed passenger rail line leveraging $3 billion in DOT grants

To keep up with anticipated passenger growth, Phoenix Sky Harbor International Airport plans to build an additional terminal.

The deal comes after months of disagreements over ballooning costs for the project, which was first announced in 2018.

Lawmakers in Illinois have proposed legislation to consolidate the Chicago Transit Authority, Metra, Pace and the Regional Transportation Authority.

Strong and growing sales tax revenues support the bonds. Repayment isn't tied to ridership, which has declined.

Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.

The bill would authorize $105 billion in appropriations through 2028 but still faces a few hurdles in Congress.

Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.

The state's transportation commission took action to end a comprehensive development agreement for a partially bond-financed toll lane project on State Highway 288.

The eight-year, $1.35 billion property tax levy would have to be approved by the City Council before going to voters in November.

Municipal bonds on the rise

Congestion pricing proponents claim it will reduce gridlock, improve air quality in Manhattan and boost ridership on the MTA, which has never recovered its pre-pandemic ridership levels.

The legislation gives up to $8.84 billion in bonding authority to the New Jersey Transportation Trust Fund Authority over a five-year period beginning July 1, about $1.76 billion annually.

"What we're doing is just being prudent managing the risk," said Metropolitan Transportation Authority Chief Financial Officer Kevin Willens.