Bonds

The outlook on Hawaii’s Aa2 rating was lowered to stable from positive by Moody’s Investors Service ahead of an $800 million taxable general obligation bond deal. The outlook revision “reflects our expectation that given its significant tourism industry, lagging demographic trends, and already high cost of living, Hawaii is vulnerable to high inflation and potentially

CommonSpirit Health added disclosure of a ransomware attack to its offering statements this week as the nation’s largest not-for-profit system prepares to enter the market with a $1.5 billion transaction, underscoring the acute threats posed to borrowers across the municipal spectrum. The Chicago-based Catholic system created through the 2019 merger of Catholic Health Initiatives and

Rhode Island plans to price $227 million of general obligation debt Tuesday in a deal that underscores the state’s capital commitment to education. The competitive deal will price in two tranches: a $162.4 million tax-exempt Series A and $60.3 million federally taxable Series B. The bonds carry the AA rating of Fitch Ratings, Aa2 from

Municipals were little changed Friday, largely ignoring a weaker U.S. Treasury market, ahead of a larger new-issue calendar that features several billion-dollar state general obligation deals. U.S. Treasury yields rose, pushing them to multiyear highs. The two-year closed above 4.5% and the 10-year eclipsed 4%. Equities ended down on continued concerns over inflation. Muni-UST ratios

An agreement among the Puerto Rico Oversight Board and the local government in the Puerto Rico Electric Power Authority bankruptcy leaves the latter with moderate power in the bankruptcy process, observers say. The board, the Puerto Rico Fiscal Agency and Financial Advisory Authority, and the PREPA bond trustee U.S. Bank National Association filed the agreement,

Bancroft Capital is beefing up its Dallas-based municipal bond team with the hiring of two individuals with extensive market experience. The certified service-disabled veteran-owned small business, which specializes in institutional brokerage and capital markets services, announced the addition of Alix Cethoute as director of municipal underwriting and Jack Logan as director of municipal sales. “Not

The tax-exempt market has been relatively slow to jump on the environmental, social and governance (ESG) bandwagon as market participants continue to search for a standard analytical approach.  So far, the institutional buy-side has been leading the charge into sustainable investing, leaving bond underwriters and issuers scratching their heads as to how to best respond.

Bankruptcy Judge Laura Taylor Swain approved the Plan of Adjustment for the Puerto Rico Highway and Transportation Authority, reducing its debts by 80% and saving it more than $3 billion in debt service payments.   Swain approved the HTA debt plan on Tuesday in the U.S. District Court for the District of Puerto Rico. Swain overruled any prior

A specific environmental social and governance regulatory proposal tailored to the municipal bond market may not be necessary, as the Securities and Exchange Commission’s proposal that applies to corporate issuers may be enough to satisfy the muni market’s ESG-related disclosures. That’s according to panelists who spoke during the National Association of Bond Lawyers’ Workshop on

Municipals were firmer in secondary trading Wednesday as the largest deal of the week, a $700 million offering from the New Jersey Turnpike Authority, took focus in the primary. U.S. Treasuries made gains and equities ended mixed after the Federal Open Market Committee minutes signaled continued tightening. “The Fed Minutes showed tightening will continue even

The Biden Administration Tuesday announced it is sending states $59.9 billion of fiscal year 2023 transportation funds allocated under the bipartisan infrastructure law. The money marks a $15.4 billion increase in formula highway funding over fiscal year 2021 allocation, administration officials said on a press call. It’s the second year of funding under the Infrastructure

The Washington and Oregon governors and the premier of Canada’s British Columbia province have signed a pact joining with California Gov. Gavin Newsom in setting environmental mandates that encourage electric vehicle use, and pledging dollars to investing in EV infrastructure. Newsom, Oregon Gov. Kate Brown, Washington Gov. Jay Inslee and British Columbia Premier John Horgan

Transcription:Caitlin Devitt: (00:03)Hi and welcome to the Bond Buyer podcast. I’m Caitlin Devitt. My guest today is Jeff Davis, a senior fellow at the Eno Center for Transportation, which is, as most of you know, a nonprofit research group on all things transportation related. And he’s also the editor of the Eno Transportation Weekly, a

In the age of great resignation, demographic shifts, population loss, and retiring workforce, how is the muni industry planning to face the talent challenge and continue growth? Our panelists will examine some of the strategies they employ to attract and retain talent as well as how they continue to focus their efforts on having diverse

Municipals were a touch weaker out long to close out the week while U.S. Treasuries posted losses and equities sold off after hotter-than-expected jobs data. Municipal to UST ratios again fell on the day’s moves. The three-year on Thursday was at 69%, the five-year was at 73%, the 10-year at 82% and the 30-year at

The city of Trenton has found itself in hot water with the state of New Jersey once again. Following a brush with default in August that prompted a state response, a group of local legislators announced on Monday that New Jersey’s Department of Environmental Protection planned for a limited but “imminent” intervention of its troubled

As we approach a year since the infrastructure law passed, the discussion will center around the plans put in place to use the monies as well as what challenges and opportunities lie ahead. The discussion points will include: The rollout of IIJA   How easy/difficult has it been to receive the money from the government

As cyber attacks continue to evolve and cyber insurance becomes prohibitively costly, the panelists will look to shed some light on what municipalities can do to mitigate the risk as well as understand the credit implications of an attack.   Among topics of discussion will be:  Auditing cyber preparedness of various agencies Key takeaways for muni

Federal Reserve Bank of Atlanta President Raphael Bostic said he favors lifting interest rates to between 4% and 4.5% by the end of this year, and then keeping the tightening in place to reduce inflation that remains near a four-decade high. “I would like to reach a point where policy is moderately restrictive — between

Chief Economist Dr. Lindsey Piegza will look at the current state of the economy amid the ongoing pandemic and what it means going forward for overall growth, interest rates and monetary policy. She will cover macro-economic trends in consumer spending and investment, in addition to new monetary and fiscal policy initiatives and the potential economic