News Results

The House Appropriations Committee approved the fiscal year 2027 Transportation, Housing and Urban Development and Related Agencies last week by a vote of 34 to 27.

The $1.2 billion deal, issued by the California Community Choice Financing Authority and underwritten by Goldman Sachs (GS), saw Alphabet as its funding recipient.

While muni primary supply falls this week, it is still robust. Issuance is an estimated $11.541 billion this week, with $8.501 billion of negotiated deals on tap, according to LSEG.

In need of revenue, some state legislatures are turning to their wealthiest residents for additional monies.

Alphabet's first foray into the municipal bond market drew robust investor demand, with bonds trading at tighter spreads in the secondary market following their initial pricing, Bloomberg reported Friday.

The muni market's strong performance in May and so far in June has been in line with historical trends, Mikhail Foux wrote for Barclays (BCS) ? but historical trends suggest the market will lose steam soon as supply builds.

The letter from officials in Democrat strongholds asked the rating agencies to maintain their focus on financial analytics in viewing energy-dependence, rather than being swayed by the political winds.

"My 10 years at Academy Securities building out the municipal platform while mentoring military veterans has been the highlight of my career," Kolman said.

The rating agency gave the city a negative outlook in November 2024, following voter approval of a ballot measure requiring more public safety funding.

As budget reconciliation finally moves past the Senate, Aggie bond advocates are reintroducing the Modernizing Agricultural and Manufacturing Bonds Act.

Market Intelligence analyst Jeff Lipton recaps May's muni outperformance versus Treasuries and broad fixed income, highlighting how carry, reinvestment demand and spread compression drove strong returns and helped A3 and Baa credits lead the market.

On the primary market, some deals are oversubscribed and others sent back to the drawing board.

West Sacramento's baseball expansion plan would provide funding to two Yolo County school districts, backers say.

"On a broad level, sentiment appears to reflect long-range optimism, though with some expected bumps along the way," NewSquare Capital's Kim Olsan wrote.

A federal appeals court panel stayed a lower court decision that found the 2021 state law to be unconstitutional.

The bond parties want the U.S. Court of Appeals for the First Circuit in Boston to overturn the U.S. District Court's rulings on their efforts to gain control of PREPA.

Blockchain-based tokenization could modernize muni market infrastructure by compressing settlement timelines, automating coupon and redemption workflows, and creating a shared, immutable ownership and compliance record.

Regulators may be questioning "whether these trading accounts are really institutions or whether they function like an unregistered broker."

The Nassau County Tobacco Settlement Corp's ability to continue as a going concern depends on restructuring its tobacco debt, the county's audit said.

AM Best has assigned a Financial Strength Rating of B and a Long-Term Issuer Credit Rating of ?bb+? to Insurance Company Alatau City Garant JSC. The ratings reflect Alatau?s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.

Mayor Andre Dickens wants to extend tax allocation districts, which could generate $5 billion to $7 billion that could back bonds.

The revenue bonds would continue financing for a 15-year, $8.2 billion program to widen existing toll roads and build new ones.

"A lot of retail investors are still very distracted by the stock market," said Pat Luby, head of municipal strategy at CreditSights.

With nearly $4.5 billion of tax-exempt bonds, a restructuring or bankruptcy would be among the muni market's largest to date.

Investors most recently added $2.33 billion to mutual funds for the week ending May 27, bringing positive flows to date to almost $40 billion, according to LSEG Lipper.

S&P lifted Graham's general obligation bond and certificates of obligation rating to A from BBB due to the city's earlier-than-projected financial turnaround.

TORRANCE, Calif., June 03, 2026 -- Virco Mfg. Largely because of the reduction in revenue and related lower factory output and overhead absorption, gross margin for the first quarter declined from 47.5% to 41.4%. Inventories have been adjusted to reflect current demand levels, declining 7.7% from $74.0 million last year to $68.3 million this year.

Illinois lawmakers passed a $56 billion fiscal year 2027 budget as the legislative session wrapped up in the early hours of Monday morning.

The status of the war in Iran is confusing, Hennion & Walsh's James Pruskowski said, but high absolute rates are giving the muni market a strong start to June.

Issuers using cash basis accounting pay a yield premium to sell bonds, according to a new paper, and their bonds are less likely to trade in the secondary.

BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) today announced a distribution of $0.0500 per share of common stock, payable on July 1, 2026 to shareholders of record at the close of business on June 16, 2026. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected performance.

The quartet of accelerated deals is among at least 25 additional unique credits above $100 billion coming to market, a major contributor to the surging supply of $18 billion to $20 billion this week.

Moody's Ratings has announced a credit rating downgrade to A2 from A1 for AU, due to operating pressure which comes on the heels of a 4% tuition hike earlier this spring.

The six-month pre-development agreement is the first step toward a larger public-private partnership to help deliver the struggling bullet train.

The rating agency cited improving financial metrics and the port's importance to the regional economy.

Market Intelligence analyst Jeff Lipton notes that coupon selection is often a strategy decision, not a price preference, and explains why premium coupons can help mitigate adverse price moves while giving investors flexibility through higher ongoing tax-free income.

Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood Scores, according to ICE Climate Data. A $16 million offering from Greenpoint Union Free School District, N.Y., records a Flood Risk Score of 5.0 out of 5.0, ICE reports.

A convention center, a wastewater treatment plant expansion, and a light rail system are among projects in the city that include bond financing.

Water supply woes continue to weigh on the Texas city's bond ratings, which have been hit with multi-notch downgrades and negative outlooks.

Considering the "huge calendar this week," NewSquare Capital's Kim Olsan said, "if we can hold steady, that's probably a good result."