Bonds

Fitch Ratings revised the outlook to positive from negative on $1.2 billion in private-activity bonds issued to pay for Los Angeles World Airport’s people mover project. Fitch also affirmed the BB-plus rating on the two series of senior lien revenue bonds issued through the California Municipal Finance Authority for LINXS, the consortium of private companies

August saw an increase in supply for the eighth consecutive month as pent-up demand and front-loaded issuance led issuers to tap the capital markets, leading to the highest monthly total volume for August on record. August’s volume reached $49.174 billion in 873 issues, up 25% from $39.33 billion in 827 issues in 2023. August’s total

Federal Reserve chair Jerome Powell said in a speech in Jackson Hole, Wyo., in August that inflation has been cooling to the point where the central bank is willing to cut the Federal Funds Rate for the first time in four years. Bloomberg News Inflation continued to show signs of easing in the Federal Reserve’s

A proposal to help solve California’s property insurance crisis would tap the bond markets and could involve billions of dollars in debt issuance. The debt would be issued through the California Infrastructure and Economic Development Bank. Assembly Bill 2996 authored by Assemblymember David Alvarez, D-San Diego, would help stabilize the insurance marketplace by bolstering the

A business group filed a lawsuit Thursday challenging the constitutionality of a 2021 Texas law that punishes banks and other financial firms for “boycotting” the fossil fuel industry. The case, brought by the American Sustainable Business Council against Texas Comptroller Glenn Hegar and Attorney General Ken Paxton in federal court in Austin, claims the law

Municipals were little changed while U.S. Treasury yields rose and equities ended mixed. Municipal bond mutual funds saw inflows as investors added $1.047 billion to funds after $512.9 million of inflows the week prior, according to LSEG Lipper. This marks nine straight weeks of inflows. <img src=”https://public.flourish.studio/visualisation/19228117/thumbnail” width=”100%” alt=”chart visualization” /> High-yield continued to show

The Municipal Electric Authority of Georgia’s $373 million of subordinated bonds are scheduled to price on Sept. 5. The bonds are rated A2 by Moody’s Ratings and A-minus by both S&P Global Ratings and Fitch Ratings. The ratings have stable outlooks. BofA Securities will serve as senior manager and Goldman Sachs and Wells Fargo Securities

The Colorado Legislature wrapped up a special session Thursday with the passage of a bill to circumvent property tax cut initiatives on the Nov. 5 ballot that troubled the state’s municipal bond market. House Bill 1001 incorporates a deal with Initiative 50 and 108 backers, who agreed to remove the measures from the ballot and

Nebraska Gov. Jim Pillen last week signed into law a package of bills that includes caps on spending authority for local cities and counties. Their signing follows a concerted push by Pillen to pass property tax reform by calling a special session of the legislature on July 25.  The governor’s plan originally was to secure

The Securities and Exchange Commission has charged Tensquare, a national charter school support organization, and its partner Karl Jentoft for acting as a municipal advisor on eight municipal bond issuances for eight separate charter schools in Minnesota. Without admitting or denying the findings, Tensquare had been ordered to pay $51,716 in disgorgement, $9,523.59 in prejudgement

A class-action lawsuit filed Monday by Austin, Texas, property taxpayers against the city seeks the elimination of $187 million in property tax revenue allocated in the 2024 tax year for a light-rail project. The litigation is the latest salvo in a legal battle over the ability of the Austin Transit Partnership, a nonprofit corporation created

The nation’s largest children’s hospital has hit a rough financial patch, leading to two bond rating downgrades and plans to cut nearly 1,000 jobs, while it eyes a return to the municipal bond market. Ratings for Houston-based Texas Children’s Hospital were cut one notch to AA-minus by Fitch Ratings in July and Aug. 19 by

Municipals were steady Monday as U.S. Treasuries were slightly weaker and equities ended mixed. The two-year muni-to-Treasury ratio Monday was at 62%, the three-year at 65%, the five-year at 66%, the 10-year at 71% and the 30-year at 87%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read. ICE Data Services had the two-year

Groundbreakings on public infrastructure projects jumped in July and are expected to accelerate later this year if the Federal Reserve begins to trim interest rates. That’s the latest update from Dodge Construction Network, which tracks construction projects across the nation from planning through groundbreaking. Its latest report highlighted a 19% increase in July from June

Federal Reserve Chair Jerome Powell’s speech in Jackson Hole Friday removed any uncertainty of a rate cut at the Fed’s September meeting, pushing U.S. Treasury yields lower on the short end, with municipals following suit, while stocks rallied on the news. “Powell has rung the bell for the start of the cutting cycle,” said Seema

The end is near for a 52-year public-private partnership that built a managed lanes toll road project in the Houston area, with the Texas Department of Transportation announcing Friday the state intends to take over the project’s operation in October. The move came after financing for the P3 termination was cleared Thursday by the Texas

Major infrastructure improvements will aid the U.S. Virgin Islands Water and Power Authority’s finances in the coming months and years, officials said. WAPA is under extreme financial pressure, according to board members, and its electric system revenue bonds were rated CC, before Fitch Ratings withdrew the rating in December. The Federal Emergency Management Agency approved

Nevada would get its first toll road under a public-private partnership floated by the city of Sparks. State lawmakers would need to approve the move, as Nevada law currently bans fees on roads that are part of P3s. The city manager of Sparks, located just east of Reno, has proposed a 13-mile toll road that

The Senate Committee on Banking Housing and Urban Affairs is facing major changes in its makeup depending on the outcome of the election, especially if Chairman Sherrod Brown, D – Ohio,loses his race.    “The committee is filled with senior members, so I assume the likes of Sens. Jack Reed and Elizabeth Warren will push for

Mirroring national trends, most states in the Far West enjoyed a double-digit jump in municipal bond issuance in the first half of the year as market conditions for borrowers improved. Issuance across the nine-state region totaled $49.7 billion, up 28.3% from $38.7 billion over the same period last year, according to LSEG Data & Analytics.