Bonds

The Tampa Bay Rays expect Pinellas County, Florida, to help finance its new major league baseball stadium. Bloomberg News Tensions between Pinellas County Commission, Florida, and Major League Baseball’s Tampa Bay Rays appeared to have increased Tuesday as the team seeks a new financing deal and the commission declined to vote on $312 million of

In the years after the 2008 economic crash, the rating agencies faced criticism largely in how it rated mortgages and securities, which resulted in the Dodd-Frank legislation bringing greater scrutiny to the industry and resulting in vast changes, Moody’s Ratings’ Eric Hoffmann said. With the cost rising and methodologies changing, the California Debt and Investment Advisory

It will take longer for this toll to generate the necessary revenue for the MTA’s 2020-2024 capital program, MTA Chair Janno Lieber said, but the agency is satisfied.Bloomberg News The Metropolitan Transportation Authority Board voted once again to implement congestion pricing, the tolling program budgeted to cover $15 billion of its current capital plan, but

JoAnne Carter, right, managing director and president of PFM, will succeed Dan Hartman as CEO after being unanimously appointed by the PFM Board. PFM Chief Executive Officer Dan Hartman will step down as head of the firm in April as he returns to a direct client support role. JoAnne Carter, managing director and president of

A new engineering and science building highlights plans for the new-money share of the University of Chicago’s award-winning deal.University of Chicago When the University of Chicago’s deal team embarked on the largest financing ever issued through the Illinois Finance Authority, the team had several goals. One was to transform the university’s capital structure; another was

<img src=”https://public.flourish.studio/visualisation/20381307/thumbnail” width=”100%” alt=”chart visualization” /> Municipals improved Tuesday as U.S. Treasury yields fell and equities ended mixed. Triple-A muni yields were bumped one to six basis points, depending on the curve, while USTs saw small gains across the curve with the best performance out long. The secondary took a backseat to the primary market

A sign outside the Financial Industry Regulatory Authority office. The Financial Industry Regulatory Authority has fined New York-based Drexel Hamilton $300,000 in addition to charging four of its registered representatives for submitting retail orders and zip codes for new issue municipal bonds without any basis for such designation. Without admitting or denying the findings, the

Grand Canyon University’s Phoenix campus. The Christian university will be in the municipal market this week with a $520 million deal to refund loans used to refinance 2021 bonds that matured on Oct. 1.Grand Canyon University Phoenix-based Grand Canyon University, which had planned a privately placed refinancing of maturing 2021 bonds this summer, heads to

Tax experts are already ringing warning bells about the effects of tax cuts promised during the election campaign and their effects on future budget deficits.  “If you cause the bond market to completely freak out by having extraordinarily large deficits right off the start due to an unwise tax bill, you will undo that promise

A company and Georgia governments are battling over approval of a bond that would support construction of a monkey breeding facility in Bainbridge. The Georgia Supreme Court may have final say in a battle for $300 million of taxable revenue bonds by a monkey breeding company the state government initially supported but now opposes after

Minnesota-based municipal advisor Johan Rosenberg filed a series of lawsuits on behalf of four states against a group of Wall Street banks for conspiring to rig interest rates on variable-rate demand bonds. A mediation session is set for Tuesday as a long-standing lawsuit charging Wall Street banks with rigging New York’s variable-rate bonds inches forward.

The Municipal Securities Rulemaking Board is soliciting applications for four positions on its board for the 2026 fiscal year. “This year the Nominating Committee is looking for one municipal advisor, one-broker-dealer, and two public representatives to join the Board,” said Katano Kasaine, MSRB board member and chair of the Nominating Committee. “We encourage qualified candidates

Former Wisconsin Republican Rep. Sean Duffy has been tapped by President-elect Donald Trump to lead the U.S. Department of Transportation.Bloomberg President-elect Donald Trump Monday said he would nominate former Congressman and current Fox News host Sean Duffy to head the U.S. Department of Transportation. “Sean will use his experience and the relationships he has built

“The deal demonstrates how smaller issuers can leverage innovative solutions to fund environmental projects at the local level,” said Justin Carl, AlexRenew’s general manager and CEO. In June, AlexRenew became the first wastewater authority in the Commonwealth of Virginia to issue green bonds with a $45.7 million deal to fund projects that provide a positive

United Airlines planes at Houston’s George Bush Intercontinental Airport. The city will sell its biggest-ever special facilities revenue bond issue with $1 billion of debt guaranteed by United.Houston Airport System Houston will sell its biggest special facilities revenue bond issue this week with a $1 billion deal backed by junk-rated United Airlines to fund terminal

Santa Barbara, California, will tap the municipal bond market this week, largely to fund a new police headquarters.Adobe Stock One of Southern California’s wealthy cities is tapping the municipal bond market to build a new police station and renovate an oceanfront park.  Santa Barbara — where the median home sells for roughly $2 million —

The Port Authority of New York and New Jersey plans to replace the AirTrain system at Newark International Airport, and project costs are skyrocketing.Bloomberg News Newark Liberty International Airport’s long-awaited train system has blown past its budget by $1.45 billion to $3.5 billion. The Port Authority of New York and New Jersey voted Thursday to

<img src=”https://public.flourish.studio/visualisation/20361427/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were little changed Monday as U.S. Treasury yields fell slightly and equities ended mixed. Munis have held up much better than USTs with recent market volatility, said Jeff Timlin, a partner at Sage Advisory. Market participants do not usually use munis “to make extremely skilled tactical moves that

Moody’s and Fitch said the airport would retain comparatively low leverage ratios even after it completes its expected capital plan bond sales in the next few years. AdobeStock Greater Orlando Aviation Authority’s senior bonds were upgraded to Aa2 by Moody’s Ratings, AA by Fitch Ratings and AA-plus by KBRA and its subordinated bonds were upgraded

A May aerial photo shows progress of New Terminal One construction at New York’s Kennedy airport.JFK New Terminal One The developers of New Terminal One at New York’s John F. Kennedy International Airport are in the position that any salesperson would want: they have something you can’t find anywhere else. It’s the biggest airport public-private

<img src=”https://public.flourish.studio/visualisation/20321862/thumbnail” width=”100%” alt=”chart visualization” /> Triple-A yield curves were little changed Friday ahead of an $8.4 billion new-issue calendar while U.S. Treasuries saw small losses across the curve and equities were in the red as mixed economic data, hawkish Fedspeak and major announcements on how President-elect Donald Trump’s new administration may take form hangs