Utilities

Recent EPA regulations mandating utilities remove lead pipes from distribution systems within 10 years will add to the financial burden.

Local governments that were in Hurricane Milton's path, however, will face significant credit challenges, Moody's said.

Falcone's agenda as president of the group will include tax provisions, subsidies, permit reform and affordable access to credit.

Santa Cruz, on California's coast, was particularly hard hit by flooding in 2023. In addition to the the I-Bank loan, the city secured a federal loan.

Fears of a Hawaiian Electric bankruptcy abated after a settlement was announced that would cap the utility's liability for the Maui wildfire under $2 billion.

MMA says some risky-sector issuers in the area hit hard by the hurricane may be pushed into technical or payment defaults.

"That's great news, and it reflects the outstanding work and commitment of our city council and my administration to keep Tampa on rock-solid financial footing," said Tampa Mayor Jane Castor.

Nuveen LLC reached an agreement to sell its 11% equity stake in Vistra Vision to Vistra Corp., that started as municipal bonds ensnared in a bankruptcy.

Analysts say the Jacksonville, Florida, utility has been able to move past concerns over its attempt to breach a contract with MEAG and to privatize.

S&P cited increased near-term capital needs in explaining the lowered outlook.