Author: Geoff Weitzel
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Municipal Bond Credit Report: Chicago’s new casino falling short of tax revenue projections
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: When casino developers were clamoring to run Chicago’s first casino, then-Mayor Lori Lightfoot’s administration all but promised a windfall. City leaders predicted a “material improvement to revenues” from the Chicago casino, the result of 2019 legislation that grew Illinois gambling by nearly 50%… Link to Story
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Municipal Bond Credit Report: Prices Fell in November for the First Time Since 2020. Inflation Is Approaching Fed Target.
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Federal Reserve is winning its fight over inflation, boosting Americans’ spirits and offering greater reassurance that the U.S. economy can avoid a recession while bringing prices under control… Link to Story
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Municipal Bond Credit Report: University of Arizona’s budget woes trigger move for increased oversight
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Fiscal problems at the University of Arizona have led to belt tightening, the resignation of its chief financial officer, and a move to increase financial oversight of the state’s public university system… Link to Story
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Municipal Bond Credit Report: After almost 16 years, New Castle, Pennsylvania, exits from Act 47
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: New Castle, Pennsylvania, has exited from distressed status under the state’s Municipalities Financial Recovery Program, also known as Act 47, the Department of Community and Economic Development announced Monday… Link to Story
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Municipal Bond Credit Report: GDP Latest estimate: 2.6 percent
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.6 percent on December 14, up from 1.2 percent on December 7… Link to Story
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Municipal Bond Credit Report: Movin’ out: New York State residents hit the road during the COVID years
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: While Billy Joel wrote those lyrics for Miami 2017 way back in 1975 as New York City sat on a mountain of debt and was nearing default, he could easily have been talking about the COVID years… Link to Story
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Municipal Bond Credit Report: Yet another private college in New York is closing
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Another private college in New York is shutting its doors after struggling financially and said it won’t make further interest payments to investors on its municipal bonds… Link to Story
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Municipal Bond Credit Report: Southwest nonprofits eye bankruptcy exits
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A trio of Chapter 11 bankruptcies filed by Southwest nonprofit entities this year in the wake of bond impairments are closer to wrapping up their cases in federal court with the help of asset sales or debt restructuring… Link to Story
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Municipal Bond Credit Report: Fed’s Interest Rate Hikes Are Probably Over, but Officials Are Reluctant to Say So
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Federal Reserve officials are increasingly confident that they don’t need to keep raising interest rates to defeat inflation. But they aren’t satisfied enough to declare an end to hikes—let alone to start a discussion about lowering rates… Link to Story
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Municipal Bond Credit Report: Dallas weighs pension recommendations as unfunded liability rises
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Dallas should use actuarially determined contributions for its troubled police and fire retirement system in order to reach full funding by 2055, according to preliminary recommendations from an independent actuary firm… Link to Story