"The MTA's structural gaps remain huge and demand immediate action and a multi-party, multi-year plan" says Citizens Budget Commission President Andrew Rein.
The spiderweb of funding sources for natural disaster recovery makes it hard to track the actual costs to state and local government of fighting wildfires.
Munis saw the best performance in November in decades, with the asset class ending in the positive by 4.68%. The MSRB reported that trading volume reached another record in November, with 1.29 million municipal trades.
Incoming House Democratic caucus chair Pete Aguilar was a California mayor and served on the League of California Cities, bringing the kind of local experience that's considered helpful to muni market interests.
The current contract with the operator of the Puerto Rico Electric Power Authority's transmission and distribution system has been temporarily extended until a debt deal gets done.
An increase in the volume of tax-exempt bond deals for long-term, fixed-priced natural gas contracts may signal a turnaround in the prepaid energy market.
Total November volume stood at $19.712 billion, the lightest of any month year-to-date, in 527 versus $37.073 billion in 1,055 issues a year earlier, according to Refinitiv data.
The Missouri-based firms say they will boost client relationships and expand capabilities with the pending merger, which will retain the L.J. Hart & Co. brand.
Debt placed through conduit Rhode Island Health and Educational Building Corp. will accelerate repairs at the Paul Cuffee School, a high school in Providence.
The downgrades for Alaska's largest city come less than two months after the mayor set returning the city's ratings to AAA as a goal in his fiscal 2023 budget.
Former state transportation official Shailen Bhatt, if confirmed by the full Senate, would play a key role in the rollout of highway funds in the bipartisan infrastructure law.
The Bloomberg Municipal Index is at positive 4.06% as of Friday. Bloomberg indices show high-yield returning 4.17%, taxable munis returning 4.38% in November while the Impact Index is at positive 4.66%.
St. Louis will receive $250 million and St. Louis County gets $169 million under a deal to distribute the $790 million legal settlement with the National Football League Rams over its 2016 move to California.
The developer is seeking as much as $230 million of bonds issued by a community facilities district to pay for cleaning up a landfill and improving infrastructure for the $2.1 billion multi-use project.
The Port Authority of New York and New Jersey expects its bottom line to return to pre-pandemic levels in fiscal year 2023, according to its recently announced budget.
Leading Life Senior Living in 2020 defaulted on $30.275 million of bonds it sold in 2017 through the Oklahoma Development Finance Authority to purchase two memory care facilities.
The rating agency raised the system's subordinate-lien general airport revenue bond rating to A-plus from A with a stable outlook amid increased enplanements.
A separate report showed the state's workforce declined by 1% between 2011 and 2021 while the workforce increased 5.1% nationally during that time frame.
Ruben James Rojas agreed to admit wrongdoing and pay a $50,000 fine after the Securities and Exchange Commission found that he misled bond investors in connection with a $100 million offering.
"An increase in social distancing and remote work has resulted in growing vacant office space since late 2020. Office rents have also trended down and remained depressed into 2022," according to the Popular Annual Financial Report.
Local officials will now be able to access to revenue from a special tax levy previously reserved only for bonded debt to pay for capital improvements.
A Federal appellate court has issued two opinions in the cases of Ohio and Kentucky and Tennessee, and in the latter, agreed the offset provision is unconstitutional.
Property owners in the path of a $5 billion highway extension and the Oklahoma Turnpike Authority are fighting over whether state statutes allow for the issuance of bonds for the project.
All award winners will be honored at a ceremony at Guastavino's in New York City on Dec. 6 and are also finalists for the national Deal of the Year award, which will be announced at the close of the gala.
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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