Bonds

Fitch Ratings revised to positive from stable the outlook on $32 million of refunding revenue bonds associated with the construction of Atlanta’s city courthouse as revenue streams continue a post-pandemic recovery. The outlook change applies to $32 million of tax-exempt certificates of participation issued by the Georgia Municipal Authority in 2016 to refund a 2002
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Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription:Kyle Glazier (00:03):Welcome to another Bond Buyer podcast. I’m Kyle Glazier, Executive Editor of The Bond Buyer, and I’m joined today by Caitlin Devitt, a Senior Reporter at the Bond Buyer. Caitlin, thank you for jumping on here with me today.  Caitlin
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New Jersey’s American Dream Mall reported a $245 million loss as costs increases outstripped modest revenue gains in 2022. According to a three-page financial document posted on the Municipal Securities Rulemaking Board’s EMMA bond disclosure website Monday, the mall, developed with help of large public financing package, reported a loss four times bigger than the
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Legislation that would update Internal Revenue Service rules governing debt financing for small to mid-sized manufacturers and farmers is getting a fresh push in the Senate. The Modernizing Agricultural and Manufacturing Bonds Act is sponsored by Sens. Sherrod Brown, D-Ohio, and Joni Ernst, R-Iowa.   “By modernizing and clarifying the rules for aggie bonds and industrial development
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Munis were weaker Friday ahead of a larger new-issue calendar. U.S. Treasuries saw yields fall, and equities ended the trading session up. The two-year muni-to-Treasury ratio Friday was at 66%, the three-year was at 67%, the five-year at 68%, the 10-year at 71% and the 30-year at 90%, according to Refinitiv MMD’s 3 p.m. read.
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S&P Global Ratings said Friday it revised Pennsylvania’s credit outlook to positive from stable. At the same time, S&P affirmed its A-plus long-term rating on the state’s $10.7 billion of outstanding general obligation bonds. S&P said the outlook reflects “our view that Pennsylvania has continued to make progress toward structural budgetary balance, with positive operating
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Moody’s Investors Service revised the outlook on the New York Metropolitan Transportation Authority to positive from stable “based on the significant increase in state tax support that will offset the post-COVID ridership losses and structurally balance projected budget gaps.” The positive outlook “reflects the significant improvement in MTA’s financial forecast due to the state-authorized increase
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Municipals were weaker Tuesday as triple-A yields rose in sympathy with U.S. Treasuries. Equities ended the session down ahead of the close of the Federal Open Markets Committee meeting Wednesday. Triple-A yields were cut two to seven basis points, depending on the scale, while UST yields rose four to six basis points, pushing the two-,
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Municipal bonds were little changed and lightly traded along with U.S. Treasuries as participants prepare for a lighter muni new-issue week amid the Federal Open Market Committee meetings. Equities were mixed. “Investor confidence has been boosted by outsized yields not seen for more than a decade,” Nuveen Head of Municipals Daniel Close and Chief Investment Officer
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Georgia Gov. Brian Kemp has suspended his state’s gasoline tax for one month as prices at the pump continue to increase. Kemp cited high fuel costs and persistent inflation when he declared a legal state of emergency last week and signed an executive order suspending Georgia’s 31.2 cents-per-gallon tax on gas and 35-cents-per-gallon tax on
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It’s a foregone conclusion the Federal Open Market Committee won’t raise the fed funds target rate at its Sept. 19-20 meeting, so the market will concentrate on the updated Summary of Economic Projections and Chair Jerome Powell’s press conference. “The Fed will try to deliver a hawkish hold on September 20, also driving home the
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For a market anchored by self-regulation and tax-exemption, creeping regulation and political crossfire are nothing new, but also show no sign of abating — look no further than the Securities and Exchange Commission’s “regulation by enforcement” and the hyper-politicization of environmental, social and governance investing factors. That’s the message from a group of municipal market
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