Material ESG risks or factors having a nexus to credit or the ability to repay bonds should be disclosed in primary offering documents and, if appropriate, through voluntary disclosure.
Lawmakers asked Treasurer Fiona Ma to work with the state's housing agencies to craft a first-time homebuyers' program unique to California's housing crisis.
The $1.27 billion Ohio River Crossing toll bridge between Kentucky and Evansville, Indiana, will bring new jobs and boost the region's economy, officials say.
Congress has until Halloween to reach not only a deal on a bipartisan infrastructure bill, but also a reconciliation deal. Without both, key muni priorities could vanish, says GFOA lobbyist.
Spreads have been widening, but secondary trading was on the light side and triple-A benchmarks were cut by only a basis point in spots even as U.S. Treasury yields once again rose on the 10- and 30-year.
The knock-on effects of COVID-19 are omnipresent, issuers said at the Bond Buyer's virtual California Public Finance Conference. For some government officials, certain changes to how business gets done have been positive.
Illinois passage of clean energy legislation cleared the deck for AMP Ohio's stalled refunding of Prairie State bonds, but mandates that would force the plant's eventual closure loom large.
Seventy-seven percent of respondents to a Bond Buyer survey said there should be universal ESG standards and just over half said ESG is ?critical? or ?very important." Consensus on how to and who should create such a language is less clear.
Public finance bankers predicted that 2022 could be another strong one for muni bond issuance at the Bond Buyer's California Public Finance conference.
Several Midwest-based not-for-profit health systems are set to borrow for new or acquired facilities and to refund debt with green bonds and taxables in the mix.
Developers of a $240 million hotel at the U.S. Air Force Academy Visitors Center in Colorado Springs are appealing to investors with an appetite for risk.
Two issuers, the San Diego County Regional Airport Authority and the Village of Franklin Park, Illinois, have disclosed in the past week that they?re under audit by the Internal Revenue Service.
The Internal Revenue Service?s Tax Exempt Bond program will not be significantly overhauled as part of the agency?s restructuring and modernization efforts, officials say, but there are a few changes to forms and procedures that bear paying attention to.
New York?s Hudson Yards development on Manhattan?s West Side was able to cover its debt service obligations despite the effects of the COVID-19 pandemic.
Municipals have mostly held steady as bid-wanteds have risen, but so have yields and ratios, making for a more satisfactory range for investors getting into the market at these new higher levels.
Chicago Mayor Lori Lightfoot's finance team laid out plans to tap more than half of $9 billion of existing and proposed borrowing authority through 2022 to refinance debt for savings and fund infrastructure and pandemic recovery efforts.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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