Author: Geoff Weitzel
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Municipal Bond Credit Report: Vernon, California, electric revenue bonds upgraded despite lawsuit
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The electric system revenue bonds of the largely industrial city of Vernon, California, received a one-notch upgrade to Baa2 from Moody’s Investors Service, which said it expects the city’s lawsuit with electric provider Bicent California Malburg LLC to be resolved in a credit neutral manner… Link to Story
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Municipal Bond Credit Report: Outlook boost for junk-rated Flint hospital ahead of deal
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Flint, Michigan-based Hurley Medical Center’s rating outlook was revised to stable from negative by Moody’s Investors Service on its improved financial performance. The speculative-grade Ba1 rating was affirmed… Link to Story
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Municipal Bond Credit Report: Federal Reserve Cuts Interest Rates by Half Percentage Point
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Federal Reserve cut its benchmark rate by a half percentage point on Tuesday morning, delivering a booster shot to stem potential economic disruptions from the spreading coronavirus epidemic… Link to Story
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Municipal Bond Credit Report: Utility revenue transfer ban may challenge some Florida local credits
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A Florida bill prohibiting a municipal electric utility from using its revenues to fund general governmental functions shouldn’t trigger a significant number of credit rating actions, but could challenge local governments relying on the transfers as an important revenue source, Fitch Ratings said Thursday… Link to Story
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Municipal Bond Credit Report: NIFA’s expanded oversight of hospital a credit positive for Nassau County, Moody’s says
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A fiscal control board’s increased oversight powers of the struggling Nassau University Medical Center is a credit positive for Nassau County, according to Moody’s Investors Service… Link to Story
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Municipal Bond Credit Report: Cash flow struggles hurt a small college’s bond rating
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Cash flow struggles led Fitch Ratings to downgrade a small suburban Philadelphia Catholic college deeper into junk territory… Link to Story
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Municipal Bond Credit Report: More state governments are buying cyber insurance
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Nearly half of state governments had cyber insurance in 2019 and the number is expected to rise this year… Link to Story
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Municipal Bond Credit Report: Jacksonville launches sweeping investigation of JEA
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Jacksonville, Florida, has launched a sweeping investigation into the failed attempt to sell city-owned JEA, a probe that is expected to delve into the role that the municipal utility’s contract to buy nuclear-generated power from Georgia played in the privatization effort… Link to Story
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Municipal Bond Credit Report: Florida lawmakers may end utility revenue transfers to city general funds
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A practice municipalities across the country have used for decades to generate revenues and keep property taxes lower may be in jeopardy in Florida… Link to Story
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Municipal Bond Credit Report: State senator wants California to take over PG&E
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Days after the California Senate approved a bill that would fine investor-owned utilities for power shutoffs, the measure’s author is proposing legislation that would outline a plan to take over the bankrupt Pacific Gas & Electric Co… Link to Story