Trends in the Regions

Legislation addressed expanding water supply, paying for flood damage, financing for capital projects, as well as a fiscal 2026 spending plan.

Higher borrowing costs without the tax exemption could force public water, sewer and power providers to raise rates, neglect infrastructure, or sell systems.

California plans to price $2.5 billion in new money and refunding general obligation bonds next week, with retail orders Tuesday and final pricing Wednesday.

Only Georgia has a higher state-level infrastructure grade from the ASCE than the the C the U.S. received this week. More in the Southeast are C-minus or lower.

The Illinois Finance Authority will go to market with $850 million of revenue and refunding bonds for the Illinois Environmental Protection Agency next week.

Houston, Phoenix, and Dallas are taking action to address fiscal challenges brought on by litigation, state actions and a ballot measure.

The New York City Municipal Water Finance Authority is tapping the market for the second time in two months, this time with a $600 million refunding.

Washington's latest official state revenue forecast lopped almost $900 million from projected collections over the next four years.

The series 2025B Black Belt Energy Gas District bonds are rated Baa1 by Moody's Ratings based on Deutsche Bank's key role in the transaction.

As major airlines report losses and scale back forecasts, Cleveland is preparing to go to market April 2 with $125.5 million of revenue bonds for its airport.