Author: Geoff Weitzel
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Municipal Bond Credit Report: Wildfire’s destruction of California town creates uncharted credit territory
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The deadly wildfire that left the town of Paradise, California, in ruins may become a test case for the municipal bond market.“The situation casts doubt on whether the local government can meet over $3.5 million in annual payments to pension obligation bondholders, CalPERS and retiree healthcare plan participants,” wrote Marc Joffe,…
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Municipal Bond Credit Report: Fitch finds state pension liabilities rise faster than debt
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: WASHINGTON — Net pension liabilities as a share of personal income rose in 40 states in fiscal 2017 while tax-supported debt rose by the same measure in only 10, a report released Monday by Fitch Ratings said…. Link to Story
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Municipal Bond Credit Report: University in Ohio readies unrated bonds
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Columbus based Ohio Dominican University is readying a $49 million issue of unrated bonds to fund projects as it works to turnaround enrollment.The unrated bonds will be issued through Columbus–Franklin County Finance Authority…. Link to Story
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Municipal Bond Credit Report: Muni outflows may create challenges
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Mutual fund outflows may pose an increasing challenge in the municipal market as the year winds down. With Federal Reserve policy makers expected to raise interest rates at least once more, at its December policy meeting, some market professionals are saying outflows could become more problematic…. Link to Story
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Municipal Bond Credit Report: Medicaid measures lead nationwide ballot parade
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Voters in three states Tuesday approved ballot initiatives to expand Medicaid coverage while anti-tax measures prevailed in two Southeast states.The measures were among dozens around the country that will impact budgets and credit quality…. Link to Story
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Municipal Bond Credit Report: S&P explains itself on divergent Chicago and Illinois sales tax ratings
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: CHICAGO – It’s all about the underlying structural features of the bonds. That’s what S&P Global Ratings says in a report explaining why Illinois’ sales-tax backed paper took a more punishing hit than Chicago’s securitization bonds after the rating agency revised its criteria for priority-lien tax revenue credits… Link to Story
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Municipal Bond Credit Report: After residents’ furor, Florida CDD bond deal is withdrawn
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A Florida developer formally terminated a controversial agreement to sell pools, parks and other amenities in the central Florida retirement community of Solivita, just days before Tuesday’s election in which candidates opposed to the deal are running for the community development districts’ boards…. Link to Story
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Municipal Bond Credit Report: Reserves and liquidity boost Hempstead, N.Y., rating
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Growing reserves and liquidity gave America’s most populous township its second rating upgrade in less than five months…. Link to Story
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Municipal Bond Credit Report: New York official asks IRS to withdraw SALT regulations
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: WASHINGTON – A New York county executive urged the Internal Revenue Service Monday to drop its proposal to restrict workarounds of the $10,000 cap on the federal deduction for state and local taxes…. Link to Story
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Municipal Bond Credit Report: Pension buyouts for Illinois budget remain in flux
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: CHICAGO – Illinois’ budget assumptions of $400 million in fiscal 2019 savings from pension buyouts remain uncertain as the state’s largest fund is preparing to launch the bond-financed programs in the second half of fiscal 2019… Link to Story