Author: Geoff Weitzel
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Municipal Bond Credit Report: As Hartford Awaits State Aid, S&P Again Drops City's Bond Rating
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Standard and Poor’s, which had already downgraded Hartford’s debt to junk bond status, dropped the capital city’s rating another four notches Thursday, a week after the mayor threatened bankruptcy… Link to Story
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Municipal Bond Credit Report: Hurricanes' impact will linger after initial damage is repaired
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The impact of two major hurricanes in one month will be felt nationwide and should play a role in Congressional debates over immigration, infrastructure and other policy areas, according to a former federal official who specializes in housing and disaster recovery… Link to Story
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Municipal Bond Credit Report: Moody's downgrades Hartford, CT's GO to Caa1 from B2; Rating under review for possible downgrade
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Moody’s Investors Service has downgraded the City of Hartford, CT’s general obligation debt rating to Caa1 from B2. The rating is under review for possible downgrade. Debt affected totals approximately $550 million… Link to Story
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Municipal Bond Credit Report: Connecticut Governor's Budget Proposal Includes Sales Tax Increase
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The state has not had a budget since July 1 and the governor has released a budget proposal this morning that includes raising the sales tax from 6.35 percent to 6.5 percent and the tax on restaurants from 6.35 percent to 7 percent… Link to Story
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Municipal Bond Credit Report: Illinois school funding bill provides more state help toward Chicago teachers’ pension contributions
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: school funding bill passed by the Illinois General Assembly on Tuesday would help prop up the $9.8 billion Chicago Public School Teachers’ Pension & Retirement Fund with an additional $209 million contribution from the state… Link to Story
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Municipal Bond Credit Report: Moody's Upgrades the Enhanced Ratings on North Dakota School Districts from Aa3 to Aa2
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Moody’s Investors Service has upgraded the enhanced ratings of 58 North Dakota school districts from Aa3 to Aa2… Link to Story
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Municipal Bond Credit Report: Fitch: Hurricane Harvey’s devastation unlikely to affect US public finance credit quality
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Fitch Ratings believes the short-term fiscal impact of Hurricane Harvey on public entities in affected areas of Texas and Louisiana will largely be mitigated by their financial flexibility and support from federal and state governments and private insurance policies… Link to Story
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Municipal Bond Credit Report: Kentucky's pension crisis spurs a rating strategy shift at one school district
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A Kentucky school district wants bondholders to focus on its fiscal strengths amid a pension crisis that spurred the downgrade of an important state credit enhancement program… Link to Story
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Municipal Bond Credit Report: Harvey firefighters' pension on 'collision course' with bankruptcy, appeals court says
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: In an unprecedented ruling, an appellate court declared the city of Harvey so severely neglected its firefighters’ pension fund that it was on the verge of insolvency — meaning there might not be any money for retirees or firefighters on the job there today… Link to Story
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Municipal Bond Credit Report: Puerto Rico oversight board asks court to enforce furloughs
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Puerto Rico’s federal oversight board on Monday sued Governor Ricardo Rossello, saying he has no authority to reject planned employee furloughs and pension cuts the board says are necessary to pull the bankrupt U.S. territory from economic crisis… Link to Story