Author: Geoff Weitzel
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Municipal Bond Credit Report: New York State looks likely to miss April budget deadline again this year
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: New York State lawmakers look likely to miss the deadline to have a new budget in place before the start of the state’s fiscal year on April 1. Last year the budget was approved a week late… Link to Story
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Municipal Bond Credit Report: Upgrade brings Chicago schools closer to investment grade
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Chicago Public Schools moved closer to investment grade status with an S&P Global Ratings upgrade last week that came just one week after district leaders again sounded alarms of a gaping budget hole once federal COVID-19 aid runs out. .. Link to Story
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Municipal Bond Credit Report: Harvey, Illinois, closing in on exchange offer for defaulted bonds
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Harvey, Illinois’ long-planned exchange offer for its defaulted general obligation bonds could get underway later this month with receipt of an overdue audit the last hurdle to overcome, city officials told a Cook County judge… Link to Story
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Municipal Bond Credit Report: Detroit upgraded by Moody’s to Ba1; outlook remains positive
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Moody’s Investors Service raised Detroit’s general obligation rating to the highest speculative grade, moving it one notch away from a return to investment grade as it continues its slog back from bankruptcy… Link to Story
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Municipal Bond Credit Report: Texas school bond guarantee program capacity rebounds to $5.4 billion
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Some capacity was restored to a nearly depleted Texas school bond guarantee program last month after state officials took action, but even more demand for the cost-saving enhancement is expected in the wake of upcoming bond elections… Link to Story
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Municipal Bond Credit Report: Bank Failures. High Inflation. Rising Rates. Is the Resilient Jobs Market About to Crack?
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The U.S. labor market has been on a tear since the economy bounced back from the pandemic, with employers adding 5.6 million jobs since the start of 2022 alone. Despite a wave of layoffs in technology and finance, many employers have kept hiring through the highest inflation in 40 years and…
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Municipal Bond Credit Report: South Carolina’s comptroller resigns after $3.5 billion blunder
Categories: UncategorizedMunicipal Bond Credit Report: South Carolina’s embattled comptroller announced he will resign next month, after state investigators held him responsible for a multi-billion dollar accounting error… Link to Story
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Municipal Bond Credit Report: Flint, Michigan’s finances stable but fragile as citizens get closer to state settlement payout
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Flint, Michigan’s fiscal condition remains stable but fragile with some positive signs on the horizon as its citizens move closer to receiving compensation for the 2014 water contamination crisis, with a $600 million state-backed settlement clearing its final legal hurdle… Link to Story
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Municipal Bond Credit Report: How will Silicon Valley Bank collapse impact bank ownership of munis?
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Municipal bonds remain a viable, high-quality source of liquidity for banks, experts say, although they are divided about whether the collapse of two regional banks will curtail or eliminate the sector’s ownership of municipal bonds… Link to Story
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Municipal Bond Credit Report: Silicon Valley Bank failure adds to California’s economic uncertainties
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The failures of Silicon Valley Bank and Signature Bank have added to the uncertainty of whether the U.S. and California are headed for a recession… Link to Story