Author: Geoff Weitzel
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Municipal Bond Credit Report: Pennsylvania’s new school grant programs to address genuine ‘crisis’ in infrastructure
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Asbestos. Lead. Temperatures that reach 115 degrees. Cracks in the ceiling so big you can see the sky. All of these have been found in Pennsylvania’s public schools… Link to Story
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Municipal Bond Credit Report: GDP Latest estimate: 2.5 percent — April 04, 2024
Categories: UncategorizedMunicipal Bond Credit Report: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 2.5 percent on April 4, down from 2.8 percent on April 1… Link to Story
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Municipal Bond Credit Report: South Carolina has $1.8 billion but doesn’t know where the money came from or where it should go
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: South Carolina has collected about $1.8 billion in a bank account over the past decade and state and private accountants are still trying to figure out where the cash came from and where it was supposed to go… Link to Story
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Municipal Bond Credit Report: Can the next generation solve Chicago’s pension crisis?
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: There’s a lot more than $10,000 at stake in the University of Chicago Harris School of Public Policy’s 2024 Policy Innovation Challenge, but that’s what the winning team of students will take home, along with a chance to influence decision-making on the Gordian knot of Chicago policy questions: public pensions… Link…
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Municipal Bond Credit Report: Rating agencies and investors weigh Baltimore bridge collapse
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Investors and credit rating agencies are weighing how much effect the collapse of the Francis Scott Key bridge in Baltimore’s inner harbor will have on the local economy and logistics on the East Coast, though early indications suggest no drastic credit impact… Link to Story
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Municipal Bond Credit Report: NASRA Issue Brief – Public Pension Plan Investment Return Assumptions
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Because investment earnings account for most of the revenue for a typical public pension fund, the accuracy of the return assumption has a major effect on a plan’s finances and actuarial funding level… Link to Story
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Municipal Bond Credit Report: Late again: California releases tardy audited financials for fifth year running
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The state of California has published its fiscal year 2022 annual comprehensive financial report, marking the fifth year in a row the state’s ACFR has been significantly delayed… Link to Story
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Municipal Bond Credit Report: CalPERS takes stance against tax initiative
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: In a majority vote, the California Public Employee Retirement System board came out against a state initiative headed for November’s ballot that would limit the ability of state and local governments to levy taxes and make pension contributions… Link to Story
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Municipal Bond Credit Report: Defaults are rising on highly leveraged workforce housing debt
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: One tool aimed at helping to solve California’s notorious affordable housing crisis appears to be headed for a crisis of its own. Defaults are rising on highly leveraged unrated workforce housing bonds, primarily issued over the last few years in California to purchase apartment buildings, when interest rates were near zero……
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Municipal Bond Credit Report: Florida’s budget contains $500M for continued paydown of state debt
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Florida state legislative session ended Friday with lawmakers approving a $117.46 billion budget for fiscal 2024-2025, up 0.8% from the $116.5 billion fiscal 2023-2024 budget… Link to Story