Moody's downgraded the university and its housing and parking borrowing arm ahead of a bond sale to support the school's goal of increasing on-campus housing.
Austin Independent School District may put as much as $1.5 billion of bonds on the Nov. 8 ballot with some of the proceeds earmarked for building security.
After a deal fell apart last year amid controversy over private prisons, the state returns with new underwriters and a traditional municipal finance structure.
The lighter calendar may help ease the imbalance between demand and supply, as selling pressure in the secondary has weighed significantly on the market tone.
The acquisition of Cancer Treatment Centers of America in February was cited for the downgrade along with City of Hope's financial weakness over the past two years.
The finance team is already lined up for the first of multiple issuances of bonds to help launch the first phase of the $9.5 billion New Terminal One project.
Monday's massive selloff contributed to investors pulling more out from the mutual fund complex. Exchange-traded funds saw $1 billion of outflows and high-yield investors yanked out $1.7 billion.
The Kenmore-Town of Tonawanda Union Free School District in Erie County, New York will pay $17.5 million to 35 victims who sought compensation under the state?s Child Victims Act.
More big cuts will be needed to keep supplies from reaching perilously low levels, the Bureau of Reclamation's leader told a Senate committee this week.
M. Elizabeth Reich has resigned as Dallas? chief financial officer after almost six years and will be replaced by Jack Ireland, the city?s budget director.
The Securities and Exchange Commission has charged the City of Rochester, New York, its former finance director, former CFO and their municipal advisor with misleading investors in a $119 million bond offering.
Triple-A yield curves rose five to eight basis points. Volatility somewhat eased Tuesday as investors took pause ahead of the Federal Open Market Committee meeting.
The Senate Finance Committee on Tuesday brought small business leaders together to discuss the pitfalls of complying with dozens if not hundreds of local tax regimes.
Talks between original holders and a law firm over potential securities fraud litigation did not pan out, and trustee UMB NA has canceled all the bonds.
The 25-basis-point move to higher yields is the largest one-day change in triple-As since March 2020 when COVID began roiling markets. Munis could not ignore a continued selloff in UST led by inflation and recession concerns.
More firms are revising issuance projections downward due to lower refunding and taxable volumes. Many participants say it is unlikely the market will hit issuance records reached in 2021 and 2020.
Bridger Aerospace plans to sell $160 million in unrated taxable revenue bonds, with a verified sustainability designation, through conduit Gallatin County.
The Investment Company Institute reported investors added $1.090 billion from muni bond mutual funds in the week ending June 1, up from $4.367 billion of outflows in the previous week.
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.