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South Africa's finance ministry said on Saturday the ratings downgrade by Moody's and Fitch will increase the country's borrowing costs and constrain its fiscal framework. "The decision by Fitch and Moody's... is a painful one," Tito Mboweni, Minister of Finance, said in a statement.

The credit and municipal bond markets held fast on Friday morning after U.S. Treasury Secretary Steven Mnuchin defended his decision, first announced Thursday evening, to let several of the Federal Reserve's key pandemic lending programs end on Dec. 31.

Municipal bond yields opened steady on Friday after U.S. Treasury Secretary Steven Mnuchin defended his decision to end several Federal Reserve lending programs at year end, including one for cash-strapped states and local governments. Municipal Market Data's initial read of its benchmark triple-A yield scale was largely unchanged.

Moody's: * MOODY'S ASSIGNS AA2 TO CALIFORNIA'S GENERAL OBLIGATION BONDS; OUTLOOK STABLE Source text for Eikon:

A federal judge on Monday said Philadelphia and Baltimore may sue eight big banks for allegedly conspiring to force state and local governments to pay inflated interest rates on a popular type of tax-exempt municipal bond.

A federal judge on Monday said Philadelphia and Baltimore may sue eight big banks for allegedly conspiring to force state and local governments to pay inflated interest rates on a popular type of tax-exempt municipal bond.

As Americans go to the polls, some of the more influential observers of the election process will be the agencies that determine the country's credit rating. The country's nearly top-notch, coveted rating is partly a reflection of the dollar's status as the world's reserve currency and the fact that the roughly $20 trillion U.S. Treasury market is the largest and most liquid in the world.

As Americans go to the polls, some of the more influential observers of the election process will be the agencies that determine the country's credit rating. The country's nearly top-notch, coveted rating is partly a reflection of the dollar's status as the world's reserve currency and the fact that the roughly $20 trillion U.S. Treasury market is the largest and most liquid in the world.

Illinois is scheduled to sell $850 million of bonds on Tuesday as investors demand fatter yields for the state's debt due to increased worries over its deep financial woes, which were exacerbated by the coronavirus pandemic.

New York's Suffolk County may tap a U.S. Federal Reserve loan program for state and local governments with cash-flow note deals this fall, a county official said on Tuesday. County Comptroller John Kennedy said he has preliminary approval from the Fed's Municipal Liquidity Facility for about $100 million of one-year tax anticipation notes the county plans to issue possibly later this month.