Bonds

S&P Global Ratings raised Illinois’ ratings by one notch Friday. The action completes a round of upgrades that rewarded the state for progress in tackling chronic strains that were made worse by a two-year budget impasse that dragged the state’s ratings to the edge of junk. S&P lifted the general obligation rating to BBB-plus from
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The U.S. Virgin Islands’ recent bond refinancing will help it avert financial catastrophe for the short term but it is not necessarily a longer-term fix, according to Moody’s Investors Service. The U.S. Virgin Islands’ government refinanced nearly $1 billion of its matching fund bonds in late March by creating a Matching Fund Special Purpose Securitization
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The Philadelphia region saw a 21% increase in tourists last year as more than 36 million people visited the region, according to Philadelphia Convention and Visitors Bureau. The city and the bureau said Wednesday the increase shows tourism is rebounding in the region as the COVD-19 pandemic continues to ease. The Weitzman National Museum of
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States are contemplating creative public-private partnerships and other methods as they wrestle with how to leverage the $550 billion Infrastructure Investment and Jobs Act into the trillions needed for infrastructure projects across the country. Nevada expanded and activated the State Infrastructure Bank to help leverage private investment, Treasurer Zach Conine said during an interview Monday
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Oregon filed amended offering documents Thursday for a recent lottery bond deal after the state Court of Appeals reversed a $1 billion verdict against the state in a dispute over forest management. The Department of Administrative Services had priced $217.7 million in lottery revenue bonds in two tranches of taxable and tax-exempt debt two weeks
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Municipals were mixed Friday, outperforming larger losses in U.S. Treasury ahead of the Federal Open Market Committee meeting next week where the Fed is expected to implement another rate hike. Equities sold off led by tech stocks. Triple-A benchmarks were cut up to two basis points, depending on the scale, while UST yields rose seven
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Vermont’s largest city has until May 9, 2022 to respond to the Internal Revenue Service’s request to substantiate its use of project proceeds in relation to a 2010 bond issuance or lose out on the refundable tax credits associated with the Qualified School Construction Bonds program. The City of Burlington received that notice related to
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California should prioritize safety, equity and climate challenges as it spends its share of the $1.2 trillion Infrastructure Investment and Jobs Act, said Toks Omishakin, secretary of the California State Transportation Agency. “I think it’s important to note that is truly an opportune time for us, particularly those of us looking to address infrastructure,” Toks
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