News Results

The municipal bond market may soon get its first glimpse of hotly anticipated tax legislation.

Veteran muni banker Debra Saunders is working to help tribal governments access government financing and debt markets for energy projects.

Federal threats to grants and the tax exemption continue to push universities to the bond market. This week, it was MIT, Yale, and Suffolk University's turn.

The recent firmness in the market has been "much appreciated," said Shannon Rinehart, senior portfolio manager of municipal debt at Columbia Threadneedle Investments.

The Oversight Board will continue to "prepare for a more dire outcome but continue to hope for the best," said Chairman Arthur Gonzalez.

The Commercial Metals Company and the West Virginia Economic Development Authority took a chance by coming to market with a tax-exempt $150 million junk-rated private activity bond sale financing a scrap metal steel mill during uncertain times for the construction industry.

The bonds have not reacted to the most recent negative ratings actions, although one buysider said that may soon change.

Muni advocates are watching the SALT cap negotiations closely, as the outcome may be influence if other revenue raisers, like axing the muni tax exemption, come into play.

The third-most-populous Louisiana city is closing out a 2021 bond authorization, but has plenty left from a 2024 bond referendum.

Charlotte will sell $330 million of bonds and Duke Health will offer $540 million.

Muni yields remain attractive, said Tom Kozlik, managing director, head of public policy and municipal strategy at HilltopSecurities.

Lawsuits claiming the LADWP failed to keep a reservoir filled or maintain water equipment were cited in KBRA's downgrade of its water system's revenue bonds.

Kullmann will head the firm's negotiated underwriting desk.?

Harvard University's ongoing legal battles and the return to market by Chicago's Regional Transportation Authority lead a host of municipal topics in April.

The Illinois Municipal Electric Agency plans to sell $600 million of refunding bonds in July, amid questions about member contracts after the bonds' maturity.

Following the Federal Reserve's meeting this week, where the Fed is expected to hold rates, Chairman Jerome Powell will try to serve up a "nothingburger," said Cooper Howard, a fixed income strategist at Charles Schwab.

Levy, a member of The Bond Buyer's Rising Stars Class of 2017, assumed the role of chair in late April.

Most of the Maryland Proton Treatment Center's debt hasn't traded hands for years.

The spending plan for the fiscal year that begins July 1 was balanced through an ongoing reorganization of city government, according to Mayor John Whitmire.

The U.S. Department of Transportation rolls out $3.2 billion via 329 infrastructure grants that will fund more than 3,200 projects that the agency contends were tangled up in red tape and DEI requirements.

The law prohibits state and local government contracts worth $100,000 or more with companies that "discriminate" against the firearm industry.

Legislation would overhaul Dallas Area Rapid Transit's financial structure in a way that could impact outstanding debt and derail bonds for Austin light rail.

The bondholders say the failure to pay them net revenues since the 2017 bankruptcy start gives rise to their administrative expense claim.

Focus was on the primary market last week, with Birch Creek reporting that one dealer estimated that 90% of the focus earlier in the week was on new issues.

The SEC told the court it is leaving for later to settle financial terms with Jeffrey DeLaveaga.

Amid deep cuts to public K-12 schools, the proposed budget would boost charter school investment as the administration said "more local school options are needed."

Hilltop currently ranks 19th year-to-date among managing underwriters of municipal bonds, underwriting $1.2 billion in 53 issues.

Despite a downgrade by Moody's Ratings in April, Washington, D.C., went to market early and emerged with an oversubscribed revenue and refunding bond issuance of nearly $1.5 billion.

With a funding agreement in the state budget, the Metropolitan Transportation Authority is gearing up to start capital repairs ? and find $3 billion of savings.?

"For munis, a strong jobs report should reverse recent credit spread widening, while a weak jobs report should keep credit spreads around current levels," said BofA strategists.

The ratings agency changed its outlook on its BBB-minus rating to negative from stable Wednesday.

Part of the problem is lack of reimbursement from insurance companies, said the owner of one proton center.

"As we head into reconciliation and tax negotiations, I'm making it clear: I won't support a bill that doesn't lift the cap," Rep. Mike Lawler said.

KBRA downgraded Los Angeles GO bonds to AA from AA-plus in the city's second downgrade within a week. The city's lease revenue bonds were also cut.

The ratings agency is growing more pessimistic about the United States economy.

Long Beach has few, if any, peer credits for the $88 million of marina revenue refunding bonds it plans to price next week.

Ohio's governor is critical of a legislative plan to support a Cleveland Browns stadium in suburban Brook Park with $600 million of state bonds.

Following a volatile April, a few municipal bond analysts are optimistic about the near-term future.

It's the latest in a series of legislative efforts to restore tax-exempt advance refunding of bonds.

April's volume was revised upward to $45.825 billion in 727 issues, up 2% from $44.945 billion in 707 issues in the same period in 2024, according to revised LSEG data.