Bonds

Rockefeller Asset Management added three new portfolio managers to bolster its municipal investment strategies within in its fixed income division, the firm announced Monday. Scott Cottier, Mark DeMitry and Michael Camarella will join Rockefeller from Invesco, where they managed the California Value Municipal Income Trust and the Trust for Investment Grade New York Municipals. They
0 Comments
Transportation Secretary Pete Buttigieg joined a bevy of state, federal and company officials in Las Vegas Monday to celebrate the long-awaited groundbreaking of Brightline West, a $12 billion privately owned passenger line that is vying to become the nation’s first high-speed train that advocates say will help launch similar projects across the country. “We are
0 Comments
The U.S. Virgin Islands Gov. Albert Bryan Jr. declared a local state of emergency Monday to stabilize the islands’ electrical system and pay Water and Power Authority debts after various government-dependent agencies had not been paying their bills. The state of emergency will let the governor use the central government’s rainy-day fund to provide money
0 Comments
Fitch Ratings upgraded the Kentucky Public Transportation Infrastructure Authority’s $336 million of first tier toll revenue bonds and $443 million Transportation Infrastructure Finance and Innovation Act loan to BBB-plus from BBB. “The upgrade is supported by strengthened debt service coverage ratios (DSCRs) due to better than expected recovery from the pandemic,” Fitch said Thursday. “The
0 Comments
Healthy reserves and plans to increase permanent funds to mitigate revenue fluctuations earned Wyoming a positive outlook from S&P Global Ratings. S&P affirmed the state’s AA issuer credit rating, which now has a one-in-three chance of being upgraded over the next two years, as a result of the the positive outlook being elevated from stable,
0 Comments
Improved finances brought Los Angeles Unified School District upgrades from two ratings agencies as it heads to market April 24 with a $2.98 billion Build America Bonds redemption and general obligation bond refunding. The upgrades affect roughly $11 billion in outstanding GOULT bonds and $472 million in outstanding COPs. The school district is the third
0 Comments
A contentious rule proposal has a host of broker-dealer and investment firms calling for a rewrite as the effects on the municipal bond market portend calamity.  “Overall, we recommend that the rules in general be reconsidered and ideally rewritten,” said Susan Joyce, head of muni trading & FI market structure, AllianceBernstein. “We definitely see a
0 Comments
The Municipal Securities Rulemaking Board has approved a request for comment for amendments to its Form A-12 under its registration rule A-12, which would collect information on associated persons from bank dealers for display on MSRB.org. That step was approved during the MSRB’s second quarter meeting that concluded Thursday. The meeting also discussed a bevy
0 Comments
The Inflation Reduction Act has paved the way for broader participation in affordable housing and a renewed focus by developers on sustainability, panelists at Baker Tilly’s 2024 DevelUP conference said this week. One panelist called the 2022 law “the largest opportunity to build foundational generational wealth that you will experience,” and others praised the tax
0 Comments
Municipal bond mutual funds saw the first large outflows of 2024, marking tax-deadline selling pressure coinciding with higher rates and volatile U.S. Treasury market moves. LSEG Lipper reported $1.47 billion of outflows from municipal bond mutual funds for the week ending April 17, “as higher rates and tax liabilities drove outflows from both [exchange-traded funds]
0 Comments
On Tuesday, global law firm Nixon Peabody LLP released the names of newly minted partners and counsels who have arrived at the next level in their public finance career.  According to the firm, “Nearly 80% of the new partners are members of historically underrepresented groups at the partnership level in the legal profession, which aligns
0 Comments