Author: Geoff Weitzel
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Municipal Bond Credit Report: Moody's Warns of 'Likely' Hartford Default, Decades of Deficits Ahead
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Moody’s Investor Service issued a dire warning to lenders Thursday: Hartford is likely to default on its debt by November and, if it doesn’t change course, will run up annual deficits exceeding $60 million through the next 20 years… Link to Story
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Municipal Bond Credit Report: Moody's: State Budget Crisis Threatens Financial Health Of Dozens Of Connecticut Municipalities
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Borrowing costs could rise for 51 municipalities and six regional school districts in Connecticut because of the state’s long-running budget standoff, a bond-rating agency said Monday… Link to Story
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Municipal Bond Credit Report: Teachers union sues over Malloy budget-gap plan
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: HARTFORD — The state’s largest teacher’s union filed a lawsuit Wednesday, in an attempt to stop Gov. Dannel P. Malloy’s budgeting by executive order… Link to Story
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Municipal Bond Credit Report: Cook County Soda Tax Repealed Leaves Budget in Need of Fix
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Cook County commissioners on Wednesday finished the job and repealed the short-lived pop tax, but Board President Toni Preckwinkle suggested afterward that their work is just beginning… Link to Story
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Municipal Bond Credit Report: In California, rising pension tide leaves services underwater
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Rising pension costs mean California cities are increasingly struggling to provide services and beginning to talk uncomfortably about insolvency, according to testimony from city officials and a new report… Link to Story
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Municipal Bond Credit Report: Moody's deems Honolulu rail's funding prospects a credit positive
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Hawaii’s efforts to get an $8.2 billion rail construction project back on track were deemed a credit positive by Moody’s Investors Service in a Thursday report… Link to Story
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Municipal Bond Credit Report: Florida residents appeal narrow ruling in Poinciana CDD bond validation case
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Residents of the Solivita planned retirement communities in central Florida filed two appeals of a judge’s decision in a bond validation case in an effort to widen the scope of the ruling… Link to Story
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Municipal Bond Credit Report: Treasury to withdraw proposed rules on political subdivisions
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Treasury Department and Internal Revenue Service announced Wednesday that they plan to withdraw their controversial proposed rules to define political subdivisions that can issue tax-exempt bonds… Link to Story
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Municipal Bond Credit Report: SCANA, Santee Cooper sell nuclear guarantee for quicker payout
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: SCANA and state-owned Santee Cooper announced Wednesday they have sold most of a $2.17 billion settlement that the Toshiba Corp. had agreed to pay the companies as compensation for a failed nuclear construction project in Fairfield County… Link to Story
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Municipal Bond Credit Report: S&P downgrades Pennsylvania credit to A-plus, cites budget problems
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: S&P Global Ratings downgraded Pennsylvania’s general obligation debt one notch to A-plus on Wednesday as state officials struggle to close a $2.3 billion budget gap, the credit rating agency said… Link to Story