Author: Geoff Weitzel
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Municipal Bond Credit Report: Skanska to stop bidding on U.S. P3s because of losses
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: In a blow for the future development of P3s in the U.S., an international player plans to end its involvement in the sector because the “risk-reward” is no longer attractive. Skanska President Anders Danielsson made the announcement Oct. 19 during a preliminary third-quarter earnings report, saying that losses on two major…
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Municipal Bond Credit Report: Prophet of Muni Market Doom Wasn’t Wrong—Just Early
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Eleven years ago next week, a then-obscure bank analyst made the call of a lifetime when she said Citigroup would be brought low by bad mortgage loans. By the end of the day hundreds of billions of dollars in value had been lost in U.S. stocks…. Link to Story
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Municipal Bond Credit Report: Why investors would likely benefit from public pre-trade information
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: WASHINGTON – The pre-trade information available on alternative trading systems to broker-dealer participants would likely benefit all municipal securities investors if made more publicly available, the Municipal Securities Rulemaking Board’s chief economist said in releasing a report Thursday that is to be presented to a market structure advisory group next week….…
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Municipal Bond Credit Report: Chicago Public Schools selling unrated notes competitively
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: CHICAGO – The Chicago Board of Education will sell $200 million of unrated tax anticipation notes Thursday in its first competitive note offering in recent memory…. Link to Story
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Municipal Bond Credit Report: Los Angeles airports upgraded ahead of pricing
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Los Angeles International Airport received a Moody’s ratings boost ahead of plans to price $650 million to help fund its $11.9 billion capital program through 2024.LAX’s $3.4 billion in senior revenue bonds were upgraded by Moody’s to Aa2 from Aa3 Monday and $2.7 billion in subordinate revenue bonds upgraded to Aa3…
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Municipal Bond Credit Report: 10 years later: Less-trusted rating agencies maintain their central role
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The municipal market remains skeptical of the rating agencies 10 years after their bad calls on mortgage securities contributed to the worst economic meltdown since the Great Depression…. Link to Story
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Municipal Bond Credit Report: Opportunity Zones expected to unleash a wave of private capital investment in localities
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: WASHINGTON – The finances of local governments around the U.S. and its territories will soon benefit from a wave of private capital investment now that the Internal Revenue Service has released its proposed regulations for Opportunity Zones, experts said…. Link to Story
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Municipal Bond Credit Report: Low growth, high leverage cost Vermont a triple-A rating
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Low economic and population growth mixed with high leverage cost Vermont one of its triple-A ratings.Moody’s Investors Service downgraded Vermont general obligation bonds to Aa1 Tuesday, citing low growth prospects for the state’s economic base due to aging demographics. The outlook is stable…. Link to Story
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Municipal Bond Credit Report: 10 years later: After the fall, remaining insurers fight for relevance
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Municipal bond insurers were among the biggest casualties of the financial crisis. With seven triple-A bond insurers and at least 10 players writing new business, up to 57% of newly issued municipal bonds carried insurance in the years before the global collapse swept away most of the insurers…. Link to Story
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Municipal Bond Credit Report: South Carolina hospital merger plan spurs rating review
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The pending merger of two hospitals to become South Carolina’s largest joint health system may be good for the bond ratings of one and not the other. Moody’s Investors Service placed Palmetto Health Alliance’s Baa1 rating on review for upgrade and Greenville Health System’s A1 rating on review for downgrade…. Link…