Author: Geoff Weitzel
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Municipal Bond Credit Report: Mitch McConnell Wants to Shield Companies From Liability in Coronavirus-Related Suits – – WSJ
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Senate Majority Leader Mitch McConnell told Republican lawmakers on a private call that he wants to shield companies from liability over pandemic-related suits and doesn’t support including an infrastructure package in a coronavirus relief bill, according to people familiar with the call, despite President Trump’s push for infrastructure investment… Link to…
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Municipal Bond Credit Report: Neal says muni provisions will be included with state, local aid – – Bond Buyer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: House Ways and Means Committee Chairman Richard Neal reaffirmed Wednesday his support for reinstating Build America Bonds and the use of private activity bonds as part of a larger package of aid to state and local governments… Link to Story
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Municipal Bond Credit Report: Coronavirus aftershocks could cost Niagara Falls investment grade rating – – Bond Buyer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A financial hit from the COVID-19 pandemic added to already strained finances has dragged Niagara Falls, New York, to the verge of junk status… Link to Story
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Municipal Bond Credit Report: Despite McConnell comment, states can’t go bankrupt, only default
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Senate Majority Leader Mitch McConnell’s suggestion last week that he’d rather let states go bankrupt than see Congress rescue their coronavirus-decimated budgets raises the question: What would a state bankruptcy look like? It would first require Congress to amend the federal bankruptcy code, which has never allowed state governments to declare…
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Municipal Bond Credit Report: Both New Zealand and Australia Contained Coronavirus, but One Is Set to Pay a Heavier Price – WSJ
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: New Zealand imposed one of the strictest lockdowns in the world, aiming to stamp out the new coronavirus. Australia took a different approach, adopting social-distancing restrictions but keeping more of its economy open, in an effort to suppress the pathogen… Link to Story
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Municipal Bond Credit Report: Mnuchin Says No Bailout for States With Badly Managed Budgets
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Treasury Secretary Steven Mnuchin said states that had poorly managed budgets before the Covid-19 outbreak sent their economies reeling should not be rescued by the federal government… Link to Story
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Municipal Bond Credit Report: Unscheduled draws on reserves due to coronavirus double – Bond Buyer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The number of coronavirus-related unscheduled draws on reserves doubled over the last week, the Municipal Securities Rulemaking Board reported… Link to Story
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Municipal Bond Credit Report: Illinois preps $2.2 billion in short- and long-term debt issues – Bond Buyer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Illinois will offer more than $2 billion of cash flow notes and bonds in May, state budget officials said Tuesday… Link to Story
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Municipal Bond Credit Report: US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis – CNBC
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Gross domestic product fell 4.8% in the first quarter, according to government numbers released Wednesday that provide the first detailed glimpse into the deep damage the coronavirus wreaked on the U.S. economy… Link to Story
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Municipal Bond Credit Report: Pandemic Triggers a Wave of Distress, Bankruptcy in Corporate America – WSJ
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The economic earthquake the coronavirus has unleashed is likely to trigger a wave of corporate distress and bankruptcy unseen in years… Link to Story