Category: Municipal Bond Credit Report
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Municipal Bond Credit Report: Some Michigan schools get debt reprieve from state
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The state of Michigan is paying down the debts of six local school districts – two of which have closed or merged with neighboring districts – including some outstanding bond balances… Link to Story
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Municipal Bond Credit Report: Illinois improves net position but sees pension liabilities rise
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Illinois saw an uptick in its fiscal fortunes in the past fiscal year, one of the few times the state’s net position has improved since that figure swung from black to red in to red in 2002… Link to Story
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Municipal Bond Credit Report: Port Authority’s New York-area airports set passenger record in November
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Port Authority of New York and New Jersey’s airports saw their busiest November on record, the agency said Wednesday… Link to Story
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Municipal Bond Credit Report: California deficit underscores state’s revenue volatility
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: News of the $68 billion budget deficit projected for California in fiscal years 2022-23 and 2023-24 raised alarm bells. But several state budget watchers say longer-term trends are less worrying… Link to Story
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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