News Results

  1. KBRA Assigns AA Rating to the Department of Water and Power of the City of Los Angeles Power System Revenue Bonds; Outlook is Stable
    Business Wire | 02/28/24 05:57 PM EST

    KBRA assigns a long-term rating of AA to the Department of Water and Power of the City of Los Angeles Power System Revenue Bonds, 2024 Series A and 2024 Series B. The long-term rating of AA on LADWP's outstanding Power System Revenue Bonds is concurrently affirmed. Key Credit Considerations The rating was assigned because of the following key credit considerations: Credit Positives.

  2. BNY Mellon Municipal Bond Closed-End Funds Declare Distributions
    Business Wire | 02/28/24 04:11 PM EST

    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.

  3. KBRA Assigns AA- Rating to Clark County, NV's Airport System Subordinate Lien Refunding Revenue Bonds Series 2024A (Non-AMT), and A+ Rating to Airport System Junior Subordinate Lien Revenue Notes Series 2024B (Non-AMT)
    Business Wire | 02/28/24 02:19 PM EST

    KBRA assigns long-term ratings, each with a Stable Outlook, for the following Clark County, NV obligations: Concurrently, KBRA affirms the long-term ratings, each with a Stable Outlook, on the following Clark County, NV Bonds and Notes: Key Credit Considerations The rating was assigned because of the following key credit considerations: Credit Positives. Credit Challenges.

  4. Preston Hollow Community Capital Closes $202,500,000 Tax-Exempt Pooled Securities (TEPSTM ) Financing
    Business Wire | 02/26/24 09:00 AM EST

    Strong Investor Demand for $135,000,000 Class A Certificates Preston Hollow Community Capital, a provider of specialized impact financing solutions for projects of social and economic importance to local communities, announces the February 14, 2024 pricing and February 23, 2024 closing of a $202.5 million Tax-Exempt Pooled Securities financing through the Public Finance Authority.

  5. KBRA Assigns AA+ Rating, Stable Outlook to The City of New York's General Obligation Bonds
    Business Wire | 02/23/24 04:14 PM EST

    KBRA assigns long-term rating of AA+ with a Stable Outlook to The City of New York's General Obligation Bonds - Fiscal 2006 Series J, Subseries J-A, Fiscal 2008 Series A, Subseries A-4, Fiscal 2008 Series C, Subseries C-4, Fiscal 2009 Series B, Subseries B-3, and General Obligation Bonds, Fiscal 2024 Series C. Concurrently, KBRA affirms the AA+ rating and Stable Outlook on the City's outstandin...

  6. Amundi US Announces Portfolio Management Changes for Pioneer Municipal Closed-End Funds
    Business Wire | 02/15/24 05:10 PM EST

    Amundi US today announced portfolio management changes for the following Pioneer closed-end municipal bond funds, effective February 28, 2024. Effective February 28, 2024, the following individuals are responsible for the day-to-day management of the Funds. The funds are closed-end investment companies that trade on the New York Stock Exchange under the following symbols: MHI, MAV, and MIO.

  7. FINRA Fines Morgan Stanley $1.6 Million for Municipal Securities Violations and Related Failures
    Business Wire | 02/15/24 11:13 AM EST

    First FINRA Disciplinary Action for Violation of Close-Out Requirements of MSRB Rule G-12 and Related Supervisory Failures FINRA announced today that it has fined Morgan Stanley Smith Barney LLC $1.6 million for the firm?s repeated failures to timely close out failed inter-dealer municipal securities transactions and to take prompt steps to obtain physical possession or control of municipal sec...

  8. Spline Data Announces Successful Release of Real-Time Predictive Municipal Bond Pricing Product
    Business Wire | 02/07/24 08:00 AM EST

    Early pricing clients include FMSbonds; Recent investment from Simplex Ventures reinforces quantitative potential in municipal data market Spline Data, a quantitative U.S. municipal bond data provider, today announced the successful release of its second municipal bond data product that provides real-time bid/ask pricing estimates to its growing list of customers.

  9. Alameda Corridor Transportation Authority Announces Sale of Approximately $216.2 Million Revenue Refunding Bonds
    Business Wire | 02/07/24 01:04 AM EST

    On February 6th, the Alameda Corridor Transportation Authority closed over $216 million in revenue refunding bonds to refinance and restructure ACTA?s debt.

  10. MassMutual Introduces New Municipal Bond Mutual Funds, Clinton Investment Management Selected as Subadviser
    Business Wire | 02/05/24 08:00 AM EST

    MassMutual Investments today announced the introduction of three new open-end municipal bond mutual funds to its MassMutual Funds mix and its selection of Clinton Investment Management, LLC as the subadviser.

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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