Bonds

Moody’s Ratings lifted Oklahoma’s issuer rating a notch to Aa1 with a stable outlook on Wednesday, citing the state’s strong fund balances, low leverage, and conservative budget management.  The upgrade is the first for Oklahoma since Moody’s, Fitch Ratings, and S&P Global Ratings  revised their outlooks for the state to positive from stable beginning last

A Major League Soccer stadium in Frisco, Texas, will undergo bond-financed renovations under an agreement approved Tuesday by the city council.  The Frisco Community Development Corp. will issue up to $182 million of sales tax revenue bonds for the Toyota Stadium project, which must commence by Dec. 31, 2025, and be completed by the end

On Tuesday, former President Trump announced support for lifting the cap on the State and Local Tax deduction, a move which has wide support from municipal bond issuers.  Trump made the announcement via his Truth Social network as part of a personal post saying, “I will turn it around, get SALT back, lower your taxes,

“As one of two model officers, Pat was instrumental in authoring the new criteria and presenting it for approval,” said Arlene Bohner, head of U.S. Public Finance at Fitch. Title: Director, U.S. Public FinanceFirm: Fitch RatingsAge: 28 The need for capital in the municipal market first resonated for Patrick Goggins during a summer internship at

An Oregon American Indian tribe is suing the U.S. Bureau of Ocean Energy Management over its approval of coastal leases for offshore wind projects. The Confederated Tribes of Coos, Lower Umpqua and Siuslaw Indians filed the suit Friday in U.S. District Court in Eugene against the ocean energy bureau, accusing it of violating two federal

California’s massive size and tax structure has long given it municipal bond market protection against credit challenges like its well-known tax revenue volatility. The state government’s strengths, providing relatively liquid paper through high volume in a specialty state with high marginal tax rates, often outweigh its credit weaknesses for investors. But massive deficits during the

A $70 million bond issue for a central Arizona town is the target of a lawsuit that claims the debt’s approval last month violated the state constitution.   Council members in Payson, a town of about 16,680 in Gila County, passed a resolution for the sale of the tax-exempt, fixed-rate “pledged revenue obligations” in a 6-1

The muni bond market grew in the second quarter as ownership by household and exchange-traded funds grew, while U.S. banks and insurers continued to reduce their holdings, the latest Federal Reserve data shows. The face amount of munis outstanding ticked up to $4.129 trillion, a 1.1% increase from the first quarter of this year and

House Republicans are squabbling over legislation that ties keeping the government open past Sept. 30 to legislation that would strengthen voting rules, as state and local governments brace for a possible curtailment of federal funding.  The bill, labeled as the “Safeguard American Voter Eligibility Act” adds additional obstacles to prevent non-U.S. citizens from voting in

Vice President Kamala Harris and former President Donald Trump shined no new light on the economic and tax policies important to the municipal bond market during their high-stakes debate Tuesday night, though brief mentions of housing, energy policy and tariffs carry modest interest to participants. “The debate was pretty light in general,” said Matt Fabian,

Texas public school districts launched a new school year based in some cases on shaky budgets with depleted reserves as they cope with increasing costs, a state per-pupil allotment that hasn’t risen since 2019, and the expiration of federal pandemic relief funding. Still, the overall credit quality for the more than 300 Texas school districts

Efforts by Muni Pride to align with other public finance affinity groups are reaping dividends for the group, which has grown to more than 100 individuals since its inception in 2019. The California-based national LGBTQ+ networking group will host its next event Oct. 1 in New York City. Connecticut State Treasurer Erick Russell will offer

Massachusetts’ general obligation bond sale Thursday was the fourth time this year the commonwealth has tapped the municipal bond market. The state treasurer’s office said it was happy with the deal’s performance, although the high supply during a busy week in the primary was evident in the final spreads.  “At this point, you’re at the

Speaking Thursday to the Economic Club of New York, former President Donald Trump proposed the creation of a U.S. sovereign wealth fund to pay for infrastructure projects. “We’ll create America’s own sovereign wealth fund to invest in great national endeavors for the benefit of all of the American people,” Trump said. “Why don’t we have

Louisiana has encountered a problem with its first public-private partnership, with the tolling and full opening of a new Belle Chasse bridge delayed for at least seven months. The bridge was to be fully opened in mid-April, but plans are delayed by subsidence of the newly constructed north and south approaches to the new bridge.

Economic activity was flat or declining across most regions in the U.S. in recent weeks, the Federal Reserve said in its Beige Book survey of regional contacts. Employment levels were generally flat to up slightly, according to the report released Wednesday. While reports of layoffs were rare, some firms noted cutting shifts and hours, leaving

Illinois will sell up to $1.1 billion of general obligation refunding bonds and $600 million of taxable and tax-exempt new money GO bonds by Sept. 30.  The refunding bonds will price next week in a negotiated transaction, according to an investor presentation. Those tax-exempt bonds will refund currently callable bonds, with maturities and size to

Just past the two-year anniversary of the Inflation Reduction Act, states have captured an average of 7% of the Biden administration’s signature climate legislation potential funding opportunities. That’s according to an Aug. 13 report from clean energy think tank RMI, which adds that the small number “makes sense” since use of the tax credits that

A proposal to help solve California’s property insurance crisis would tap the bond markets and could involve billions of dollars in debt issuance. The debt would be issued through the California Infrastructure and Economic Development Bank. Assembly Bill 2996 authored by Assemblymember David Alvarez, D-San Diego, would help stabilize the insurance marketplace by bolstering the

The Colorado Legislature wrapped up a special session Thursday with the passage of a bill to circumvent property tax cut initiatives on the Nov. 5 ballot that troubled the state’s municipal bond market. House Bill 1001 incorporates a deal with Initiative 50 and 108 backers, who agreed to remove the measures from the ballot and