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News
USTs cheapen, munis are mixed
1+ day, 13+ hour ago (330+ words) Munis were mixed on Friday, as U.S. Treasuries cheapened and equities ended mixed. Tax-exempt issuance for the week of Aug. 17 is projected to be nearly double the same week last year, J.P. Morgan analysts, led by Peter DeGroot, wrote. Next week will…...
Changes made to North Carolina Local Government Commission
1+ day, 13+ hour ago (499+ words) North Carolina Republican state legislators have shifted appointments power over the Local Government Commission to the GOP-dominated legislature, in a move the Democratic governor says is an effort by Republicans to give power to their friends. Gov. Josh Stein signed…...
Portland, Oregon, gets revenue bond rating boost before deal
1+ day, 15+ hour ago (655+ words) Portland, Oregon's plans to price $585.6 million in second lien water system revenue and refunding bonds are bolstered by a recent upgrade from S&P Global Ratings. The agency raised the rating Friday on the city's outstanding second-lien parity water revenue…...
Oklahoma report examines public school finance
1+ day, 21+ hour ago (506+ words) A public school finance report released this week by Oklahoma Gov. Kevin Stitt raises the possibility of bond-funded endowments, property tax revenue for charter schools, and restrictions on budget balances. The analysis of revenue sources, spending allocations, and per-student expenditures…...
Port of Seattle navigates choppy market to meet savings target
1+ day, 22+ hour ago (1317+ words) The Port of Seattle navigated a volatile municipal bond market to price a $251.9 million revenue bond transaction that its finance team said highlights both the strength of the port's credit profile and its ability to execute a refunding in a…...
Munis slightly firmer amid seasonal slowdown
2+ day, 12+ hour ago (431+ words) Munis were somewhat firmer on Thursday, as U.S. Treasuries richened and equities ended higher. Muni yields richened by up to two basis points, depending on the scale. UST yields were three to six basis points richer. Fund flows have been quieter…...
Reno-Tahoe airport deal spurred by local economic growth
2+ day, 14+ hour ago (675+ words) The Reno-Tahoe International Airport Authority plans to price $362 million in airport revenue bonds on Monday to help fund its capital improvement plan. The $1.362 billion capital improvement program, known as MoreRNO, will help the airport expand to meet the demands of…...
Kentucky's Fayette County School District gets another Moody's downgrade
2+ day, 16+ hour ago (396+ words) Fayette County School District of Kentucky general obligation bonds were downgraded to Baa1 from A3 by Moody's Ratings, citing weakening reserves. Moody's also revised the outlook to negative from "under review." Simultaneously, Moody's also downgraded the school district's lease appropriation bonds rating…...
Speculative student housing bonds go divergent ways
2+ day, 21+ hour ago (1137+ words) Two speculative-grade Florida student housing bonds have gone down divergent paths over the last half year. Moody's Ratings downgraded Florida Capital Projects Finance Authority bonds issued for PRG-UnionWest Properties to B3 from Ba3 in late June following a draw on debt service…...
CPI data has little effect on munis
3+ day, 13+ hour ago (830+ words) Munis were little changed on Wednesday after the release of the consumer price index report, as U.S. Treasuries were narrowly mixed and equities ended higher. Muni yields were up to one basis point firmer, depending on the scale. USTs saw small…...