Author: Geoff Weitzel
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Municipal Bond Credit Report: Public safety pension funds may flood Illinois with intercept requests
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Even as Harvey, Illinois, won a court order to release funds the state withheld to cover overdue pension debts, a second city has joined the ranks of municipalities that could face such a maneuver to honor public safety pension obligations… Link to Story
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Municipal Bond Credit Report: CalPERS changes spur California city to plan pension obligation bond deal
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: La Verne, California, is moving forward with plans to sell pension obligation bonds to deal with a nearly $50 million anticipated pension liability… Link to Story
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Municipal Bond Credit Report: Georgia’s small city de-annexation bill raises red flags for the state’s municipalities
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Few municipalities can imagine losing half their corporate boundaries to an involuntary de-annexation, but that’s what may happen to the small city of Stockbridge, Georgia… Link to Story
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Municipal Bond Credit Report: Banks, broker-dealers accused of widespread fraud and collusion over VRDO rate resets
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Eight Wall Street and regional banks and broker-dealers have been accused in a whistleblower suit of “widespread fraud and collusion” in connection with remarketing the variable-rate demand obligations of state and local issuers in Illinois… Link to Story
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Municipal Bond Credit Report: Moody’s Raises Hartford’s Bond Rating After State Bailout
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The state’s agreement to pay off Hartford’s $550 million in general obligation debt has prompted a dramatic upgrade in the city’s bond rating and a shift to a stable outlook… Link to Story
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Municipal Bond Credit Report: How two Ohio community colleges landed underlying junk ratings
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The underlying ratings of two Ohio community colleges were dropped to junk in a series of rating actions by Moody’s Investors Service… Link to Story
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Municipal Bond Credit Report: Connecticut assumption of Hartford debt pays immediate dividend to city’s credit
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Connecticut’s deal to assume capital Hartford’s debt payments – up to $40 million annually stretched out over two decades — triggered an immediate boost to the city’s credit standing… Link to Story
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Municipal Bond Credit Report: Future spending concerns drive downgrade of Philadelphia
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Long-term concerns about whether higher spending Philadelphia plans for its school district will be supported by new tax revenues joined pensions to drive its first downgrade in more than seven years… Link to Story
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Municipal Bond Credit Report: Under New Deal, State Will Pay Off Hartford’s Debt
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Connecticut has agreed to pay off Hartford’s general obligation debt – about $550 million over the next two decades or so – as part of the bailout promised to the city under the most recent state budget… Link to Story
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Municipal Bond Credit Report: How Puerto Rico’s bankruptcy is roiling the municipal bond world
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Municipal participants say the ripple effects from the Puerto Rico bankruptcy have shaken investor confidence in lower-rated states and cities, legal promises, and credit ratings in general. Of particular concern is a ruling by Title III judge Laura Taylor Swain that upset expectations regarding special revenue bonds, which had continued to…