News Results

Fitch Ratings affirmed Illinois GO bonds at BBB-plus and lifted the rating outlook as the state prepares to sell up to $2.5 billion of general obligation debt.

Outflows continued as Refinitiv Lipper reported $194.097 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $427.082 million of outflows the week prior.

In his annual address to Puerto Rico's legislature Pedro Pierluisi hailed the growth of Puerto Rico's economy.

BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and BNY Mellon Strategic Municipals, Inc. (LEO) have declared a monthly distribution for each Fund's common shares as summarized below.

S&P : * S&P: STATE OF ILLINOIS SERIES OF MAY 2023A, B, C, AND D GO BONDS RATED 'A-'

The Irvine Facilities Finance Authority will price $455 million in special tax bonds to develop the Great Park in the Orange County, California, city.

Tioga Independent School District, located north of Dallas, has a state-appointed monitor to develop and implement "a corrective action plan."

Part of the problem may be the lack of a muni finance tax expert in Treasury, a position that has been vacant since 2019.

Outflows continued, with the Investment Company Institute reporting investors pulled $693 million from mutual funds in the week ending March 22, after $684 million of outflows the previous week.

The amendments seek to align the Rules with the Securities and Exchange Commission's recent approval of T+1 clearing across bond markets.

The bill would create a state investment fund and establish a debt reduction program to be administered by the Division of Bond Finance.

FITCH: * FITCH RATES OREGON'S $52.4 MM GOS 'AA+'; OUTLOOK STABLE Source text for Eikon:

Massive transit projects have funding momentum, and traditional road and bridge projects are advancing as well despite political opposition and some shaky funding.

The publicly offered tax-exempt debt product is new for the firm and the collateralized debt obligation structure may be one of the first for the market since the 2008 financial crisis.

Munis are directionally trading with USTs but underperforming in days where USTs rally and outperforming in days where USTs sell-off, said Greg Gizzi, head of U.S. fixed income and head of municipal bonds at Macquarie Asset Management.

Federal funds bankrolling development of Vermont's broadband infrastructure will run dry next year, according to an investigation by the state auditor's office.

The Investing in Our Communities Act, introduced by House members Kustoff, R-Tenn., and Ruppersberger, D-Md., would reinstate tax-exempt advance refunding.

The state, through its established conduit issuer, is eyeing new financing products to promote climate goals as its pursues $1.2 billion of federal funds.

Ambiguous language in the legislation is one of a handful of reasons why issuers have not taken advantage of the new financing tool.

http://archive.fast-edgar.com/20230327/AQ22U22CZZ2RVTZ222ZK2ZYJLEMNEZ22325G Filed on: March 27, 2023.

http://archive.fast-edgar.com/20230327/AQ22U22CZZ2RVJZ222ZK2ZYSLEMNYZ22325G Filed on: March 27, 2023.

Analysts say the PROMESA bankruptcy law is more creditor friendly than how the judge in the PREPA case interprets it.

Munis held "their firmer tone as Treasuries continued to rally once more this past week," said Jason Wong, vice president of municipals at AmeriVet Securities.

Villanova, who is based in Hawaii, will help expand Bancroft's engagement with issuers, underwriters and financial advisors.

Municipals' strong fundamentals and high credit quality combined with market inefficiencies and dislocations present opportunities.

The proposal would prevent the sale of asset -backed securities tainted by any material conflict of interest and commenters feel that munis should be excluded from the final rule.

Public finance veterans Marvin Markus and Mark Liff join Siebert as managing directors to focus on expanding the firm's infrastructure and higher education practices.

Republicans argued the longtime transit and airport CEO lacked the experience necessary to head the FAA.

Yields on top-rated municipal bonds fell as much as nine basis points on Friday as bank contagion fears resurfaced and investors looked to safe-haven securities. The primary calendar is rebounding, with volume rising to an estimated $5.4 billion in the week ahead.