Author: Geoff Weitzel
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Municipal Bond Credit Report: Projected OPEB liability growth spurs Houston to create a trust fund
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Facing projections its unfunded liability for retired city worker benefits like health care would balloon to about $9 billion over 30 years, Houston last week created a trust, which along with previous cost-saving measures, is aimed at greatly shrinking that obligation. .. Link to Story
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Municipal Bond Credit Report: Illinois senior living community files Chapter 11 bankruptcy, seeks sale
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Illinois’ largest senior living retirement community has turned to bankruptcy court to manage an auction and sale process that will impact recovery rates for holders of its $125 million of outstanding defaulted municipal bonds… Link to Story
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Municipal Bond Credit Report: I-95 collapse in Philly not expected to carry credit implications
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Federal officials have pledged resources to help Pennsylvania rebuild a busy section of Interstate 95 through Philadelphia that collapsed Sunday after a tanker truck caught fire… Link to Story
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Municipal Bond Credit Report: Fed Holds Rates Steady but Expects More Increases
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Federal Reserve officials agreed to hold interest rates steady after 10 consecutive increases but signaled they were prepared to raise rates next month if the economy and inflation don’t cool more… Link to Story
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Municipal Bond Credit Report: Enrollment drop spurs negative outlook on Oregon university’s bonds
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Struggling with declining enrollment, Oregon’s Portland State University had its outlook revised to negative by Moody’s Investors Service, affecting $193 million of outstanding debt… Link to Story
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Municipal Bond Credit Report: Downgrade to Bay Area’s BART underscores pressure on California transit
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The San Francisco Bay Area Rapid Transit District, facing continued steep pandemic-driven ridership declines, received a two-notch downgrade on its general obligation bonds from S&P Global Ratings, even as a bevy of state lawmakers plead with colleagues to include a transit rescue package in the budget… Link to Story
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Municipal Bond Credit Report: Construction delays choke cash flow of New Jersey senior facility
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: An assisted-living complex for low-income senior residents in southern New Jersey has been struggling to make timely monthly loan payments… Link to Story
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Municipal Bond Credit Report: Chicago will seek pension answers over the summer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Chicago’s new mayor, Brandon Johnson, is tasking a “working group” that includes his finance team and state legislative and labor representatives with finding long-term funding fixes to ease the city’s pension funding woes… Link to Story
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Municipal Bond Credit Report: U.S. Labor Market Shows Resilience With Strong May Hiring
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Hiring surged this spring, the latest sign the U.S. economy maintains momentum in the face of rising interest rates and complicating the Federal Reserve’s decision over whether to pause rate increases this month… Link to Story
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Municipal Bond Credit Report: Hospital budgets and balance sheets socked by inflation
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Chicago-based CommonSpirit Health’s third quarter financial results highlight the persistent strain inflation poses on not-for-profit hospital balance sheets, with cascading effects on borrowing plans and operational strategies… Link to Story