News Results

The Chicago Public Schools ended the week no closer than it started to answering the question of how or if a scheduled pension payment will be made.

Municipal bond issuance for the week of March 24 is at $7.923 billion, with $6.673 billion of negotiated deals and $1.251 billion of competitive deals on tap.

The Los Angeles-based fund manager has expanded into debt financing to offer affordable housing developer clients a lower cost of capital.

Separately managed accounts have exploded in the muni market in recent years but high-yield SMAs remain rare.

The rating agency cited a tax cut package enacted by the state last year and uncertainty over federal policies for the outlook revision to stable from positive.

Washington's latest official state revenue forecast lopped almost $900 million from projected collections over the next four years.

The governor is calling for a freeze on planned cuts to individual and corporate tax rates.

Most of Thursday's issuance came from competitive deals, the largest being the Dormitory Authority of the State of New York with $2 billion-plus and California with $889 billion.

Natural disaster disclosure warrants 'a special focus,' NFMA's 2025 chair says.

Mesirow's George Barbar said the group's top legislative focus is preserving the municipal bond tax exemption.

The series 2025B Black Belt Energy Gas District bonds are rated Baa1 by Moody's Ratings based on Deutsche Bank's (DB) key role in the transaction.

Firms like Siebert Williams Shank and Huntington have begun stacking their benches with municipal finance talent amid tax exemption uncertainty.

Judge Laura Taylor Swain also approved the mediators hiring PJT Partners (PJT) to be their financial advisor.

Wednesday marked the first trading session that saw cuts more than a basis point or two in spots since last week's extended selloff.

The U.S. Department of Transportation is pressing public transit agencies to beef up their commuter safety protocols or lose federal funding while the recently passed continuing resolution raises appropriation levels for the sector by less than a half percent.

Fitch Ratings cited the San Diego-area health district's ongoing fiscal woes in dropping its rating to B-minus from B and revising its negative watch to a negative outlook.

"If you're an issuer, this is fly-in season," said Jarrod Loadholt, partner at Ice Miller LLP. "Don't hope someone else is going to solve this for you ? they're not."

Rhonda Skoby and Rachel Lochner joined the Minneapolis public finance practice of Taft, Stettinier and Hollister as partner and associate, respectively.

The slowdown of growth in the fourth quarter does not imply there is dwindling demand for munis, said Pat Luby, head of municipal strategy at CreditSights.

As major airlines report losses and scale back forecasts, Cleveland is preparing to go to market April 2 with $125.5 million of revenue bonds for its airport.

"While there has been some reported buying by relative value institutions amid higher ratios from the muni-centric price correction, the market as a whole may not rally this week," said Matt Fabian, a partner at Municipal Market Analytics.

Hospital and health insurance operator UPMC's $735 million deal looks routine. But the volatile healthcare and insurance environments may disrupt that standard.

A bondholder group is negotiating with the school, which continues to operate.

With no policy changes expected, analysts are eagerly awaiting the new Summary of Economic Projections for clues about future monetary policy.

Bond-issuing infrastructure districts and development zones were a focus of legislation passed by Utah lawmakers during a session that ended March 7.

President Trump's selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the position quickly. Bowman was the preferred choice for many in the industry.

Municipals are little changed to start the week after last week's selloff, which saw muni yields cut up to 20 basis points out long.

The MSRB has said it is amending a pending rule change that would greatly shorten the reporting time standard for municipal bond trades, which could cause problems for certain transactions, dealer firms said.

Moody's Ratings revised the outlook to negative from stable but affirmed the A1 rating on the CTA's senior lien sales tax bonds.

Citibank, which holds the government funds, said it froze the money following a request from the FBI.

Mayor Brandon Johnson's team wants the Chicago Public Schools to refinance debt to free up money for a pension payment to the city.

The Trump administration has dealt several blows to an already-battered sector.?

Gov. Josh Stein said in his State of the State address too many schools are overcrowded or decrepit.

March had been expected to be difficult due to a "combination of heavy supply, low redemptions, rate volatility, tax-related selling and now fund outflows," said Barclays (JJCTF) strategists Mikhail Foux and Grace Cen.

The Tax Policy Center examined which cities and states would be the most affected if Congress eliminates the tax exemption.

Michael Melzer joined Nixon Peabody's Chicago office as a partner, bringing wide-ranging experience in public finance.

S&P Global Ratings analysts said they reviewed their entire rated California public utility portfolio before giving seven negative outlooks.

After digit-double cuts out long Wednesday, muni yields rose an additional two to four basis points, depending on the curve, on Thursday.

The Oversight Board's effort to confirm a "a legally infirm cramdown plan is patently flawed and will add years of litigation," the bondholders said.

While the White Lake, Michigan, township hack is the best-known and publicly disclosed cyberattack, there have been others. Some issuers and firms are reluctant to share these experiences publicly.