Author: Geoff Weitzel
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Municipal Bond Credit Report: California’s revenue rollercoaster hits another blip
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The California Legislative Analyst’s Office’s projection of a potential $25 billion deficit in fiscal 2023-24 isn’t likely to change analysts’ ratings outlook on the state… Link to Story
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Municipal Bond Credit Report: S&P Sees US Default Rate More Than Doubling in Shallow Recession
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The default rate for US companies will soar to 3.75% if the Federal Reserve’s fight against inflation only tips the economy into a shallow recession, according to S&P Global Ratings. A more serious downturn would send the rate to 6%… Link to Story
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Municipal Bond Credit Report: California hospital board takes step toward Chapter 9 bankruptcy
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The board of a public hospital in California has voted to declare a fiscal emergency, a move that would allow it to declare Chapter 9 bankruptcy… Link to Story
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Municipal Bond Credit Report: Moody’s upgrades Chicago after city council passes budget
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Moody’s Investors Service raised Chicago to investment grade Tuesday, one day after the City Council passed Mayor Lori Lightfoot’s 2023 budget that sends extra funding to the city’s pension system… Link to Story
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Municipal Bond Credit Report: Inflation takes bite of New York local governments’ sales tax increase
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Sales tax collections by local governments in New York increased 10.2% in the third quarter compared to the same period last year, according to State Comptroller Thomas DiNapoli… Link to Story
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Municipal Bond Credit Report: California voters made some credit positive choices, Moody’s says
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: California voters received largely favorable reviews from Moody’s Investors Service for approving school-related ballot measures and the failure of a statewide measure that would have raised taxes on high earners that analysts say could have driven more business out of the state… Link to Story
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Municipal Bond Credit Report: Chester, Pennsylvania, files Chapter 9 bankruptcy petition
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Chester, Pennsylvania, has filed for Chapter 9 bankruptcy. The petition was filed Thursday in the United States Bankruptcy Court for the Eastern District of Pennsylvania. In its Chapter 9 filing, the city’s receiver listed estimated liabilities of between $100 million and $500 million with assets of between $10 million and $50…
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Municipal Bond Credit Report: Travel sports destination hits bond trouble in first year of operation
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A nonprofit created to build a venue for a wide swath of youth and other participant sports in the Phoenix area has stumbled out of the gate in its first year of operation, according to bond disclosure documents… Link to Story
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Municipal Bond Credit Report: Florida’s bond-financed insurers solid after Hurricane Ian, state says
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Hurricane Ian gave Florida a deadly beating, but the insurance entities the state created for such eventualities remain in good shape, officials say… Link to Story
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Municipal Bond Credit Report: Bankruptcy deal would protect bonds issued to fund wood pellet producer
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Bankruptcy proceedings for a municipal bond-financed wood pellet producer in South Carolina resulted in a deal that secures the bonds backing the project while giving it a second shot at success… Link to Story