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The Florida-based mining company failed to make $10 million in principal and interest payments due on Jan. 1. Florida had the largest number of defaults in 2024 at nine, per Municipal Market Analytics, Inc.

"It is the first step but that doesn't mean there's a second step," said John Bagley, the MSRB's chief market structure officer.

Tom Greene is retiring after 10 years at Wintrust Wealth Management. He left retirement to work for Wintrust; he also spent 40 years at William Blair and Co.

The legislative reconciliation process will move fast and cutting the budget is in vogue. As such, we must recalibrate our goals as an industry to reflect the new political paradigm.

The billion-dollar deal will be the first bonds backed by the tax since it was created in 2019.

"'The market environment will likely become a bit more difficult in the coming week, as supply will jump to its highest level in weeks, while dealers are heavier than average," said Mikhail Foux, head of municipal research and strategy at Barclays.

The management team sees opportunity in pockets that other investors avoid, like American Dream, Midwestern private colleges and senior living facilities.

The rating agency said the district's strong management helped boost its ratings ahead of an $806 million bond issuance slated for Jan. 22.

Wiles retired from Los Angeles County at year-end but will still influence the industry as a member of the Municipal Securities Rulemaking Board.

Analysts cited growth in the county's reserves, conservative budgeting and strong sales tax revenue as the county prepares to sell GO bonds.

Sizable deals for next week include $1.3 billion of real estate transfer tax revenue bonds from the Triborough Bridge and Tunnel Authority and $996.335 million of second series revenue bonds from the San Francisco International Airport.

The Department of Transportation's is awarding more than $332 million for 171 grants across 32 states to modernize airports as part of the BIL's Airport Infrastructure Grants program.

Alabama-based Frazer Lanier failed to detect a $500 political contribution by one of the firm's muni finance professionals from a joint checking account, FINRA said.

Governor Wes Moore of Maryland opened the state's General Assembly with a challenge to cut $2 billion of a $3 billion overall shortage as a new administration in Washington ups the stakes by eyeing a rollback of climate change funding.

Redevelopment 3.0 should focus on providing a permanent, reliable source of equity with which to build a sustainable pipeline of affordable housing projects.

The deal will refinance some debt and take out new debt to fund an electronic records transition, renovate spaces and buy equipment.

Florida sold $131.9 million of bonds Wednesday with double-barreled backing from the state's fuel tax and its full faith and credit pledge.

The largest issuance the Local Government Commission approved was $387 million of bonds for Mecklenburg County.

The Federal Reserve will be more cautious and slow rate cuts going forward, according to minutes of the December Federal Open Market Committee meeting, released Wednesday.

The decision, when issued, could have implications for other Puerto Rico bond restructurings.

Congressional observers are casting a skeptical eye about the productivity of the new 119th Congress that is already defined by ideological differences separating factions within the majority party.