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The rating action affects $423 million in bonds and certificates of participation. The territory's issuer rating was affirmed at speculative-grade Ba1.

President Joe Biden's fiscal 2024 budget zeros out spending for the popular RAISE grant program.

Airports are being squeezed by modernization demands and servicing existing debt.

Outflows continued as Refinitiv Lipper reported $427.082 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $461.123 million of outflows the week prior.

Flint will receive state pension funding help but plans to press for more pension and local government revenue aid to preserve its struggling tax base as it recovers from the 2014 water contamination crisis.

The ruling may open the way for approval of a payout to bondholders as small as 0.21%.

Big national banks would be banned from state and local government contracts in Oklahoma if their policies "discriminate" against the firearm industry.

The state seeks "long-term stable funding" to advance the nation's largest infrastructure project, which remains in slow motion after almost 15 years.

But the Securities and Exchange Commission's best-execution proposal, largely dismissed as duplicating an existing Financial Industry Regulatory Authority edict, could have wide-ranging implications for trading firms in options, bonds, and crypto securities as well as equities.

The Kaiser Family Foundation's report drew the ire of the American Hospital Association, which said it excluded many community benefits from its analysis.

"In short, it appears that the end of the current tightening cycle is coming into view," said Wells Fargo Securities Chief Economist Jay Bryson.

A plan to build a light rail system in the Texas capital city has come under financial and political pressure.

A magistrate told PREPA bondholders and Oversight Board to continue negotiations for at least another 13 days.

After a tumultuous week, expect another ahead, said Matt Fabian, a partner at Municipal Market Analytics.

Municipals should continue to be part of banks' high-quality portfolio of assets, but some think ownership may be curtailed by the banking collapse.

Redwood City-based Summit Public Schools had its bond rating downgraded to Ba3 from Baa3 by Moody's and its outlook revised to negative.

The state plans to enter the market before the fiscal year closes June 30th with eyes turned to Fitch and whether it will follow Moody's and S&P with an upgrade.

Chicago Mayor Lori Lightfoot and council members passed resolutions honoring Msall for guiding local finances over two decades as Chicago Civic Federation president.

The Securities and Exchange has updated its frequently asked questions page for the registration of municipal advisors, providing guidance on Form MA, Form MA-I and Form MA-NR

Members of the Fed learned the wrong lesson from bizarrely focusing on the 1970s when they said "If history has taught us anything, it's to not let up too soon on inflation."

Until now, the battle over the role of ESG factors in investing has played out on the state level.

"Florida will not side with economic central planners; we will not adopt policies that threaten personal economic freedom and security," said Gov. Ron DeSantis.

The bill's sponsor pointed to board members' need for expertise.

Lawmakers must consider the proposal before the end of the legislative session this month after a gut-and-amend maneuver.

The $250 million in debt being issued for Montana Renewables is equal to nearly half the state's issuance for last year.

The banking sector crisis caused a flight-to-quality bid in USTs last week.

The MTA, which expected to begin collecting the tax next year, has revised downward its 2024 projections as federal review is taking longer than expected.

Among the record number of bills filed in the biennial session are bills aiming to restrict or expand municipal bond issuance.

The Hall of Fame initiative celebrates individuals whose careers have left an indelible mark, while the Rising Stars program recognizes the muni finance leaders of tomorrow. Nominations close May 5, 2023.

The reverberations from the Silicon Valley Bank and Signature Bank (SGBG) failures make the outcome of this week's Federal Open Market Committee meeting unpredictable.

Investors will be greeted Monday with a new-issue calendar estimated at $4.064 billion.

Governments across the Northeast announced support for emerging industries affected by the collapse of Silicon Valley Bank and Signature Bank.

The watchdog would have the power to subpoena data from oil companies.

The collapse of Silicon Valley Bank and Signature Bank (SGBG) clouds the economic landscape and complicates monetary policy decisions but it's a long way off from the troubles banks and broker-dealers faced in the 2008 financial crisis.

Outflows continued as Refinitiv Lipper reported $461.123 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $307.815 million of outflows the week prior.

President Biden's budget would allow large transit agencies to divert formula capital grants to operations in 2024, a move that one transit official said may hurt smaller agencies.

Illinois earlier this week saw its second upgrade of the year and Gov. J.B. Pritzker suggested an uptick in revenue projections could provide room to further bolster fiscal metrics that helped draw the upgrade.

The Texas Education Agency, which initially sought the takeover in 2019, will appoint managers to run the state's largest public school system.

The Securities and Exchange Commission proposal would require all market entities to implement policies and procedures to address cybersecurity risks.

"What is happening at Silicon Valley Bank is on everyone's mind," UCLA Anderson Forecast Director Jerry Nickelsburg said at its quarterly economic update.