Tag: Municipal Bond Credit Research

Municipal Bond Credit Report: Michigan State University had plenty of buyers for a bond issue that in part will finance a legal settlement for the Larry Nassar sexual abuse cases. Last week’s deal priced amid headwinds that ranged from the stain the sex abuse case created for the university’s reputation to rating downgrades and news…

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Municipal Bond Credit Report: LOS ANGELES — About $1 billion in California redevelopment agency debt is under review for possible upgrade after Moody’s Investors Service changed its rating methodology. Moody’s placed 38 tax increment debt bond ratings under review for upgrade Feb. 7 when it published the update to its tax increment debt methodology…. Link…

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Municipal Bond Credit Report: Detroit received an S&P Global Ratings upgrade to BB-minus from B-plus Thursday in recognition of its stabilizing fiscal picture. The upgrade which still leaves the city three notches away from investment grade, impacts Detroit’s $135 million, series 2018 unlimited general obligations bonds. The outlook is stable…. Link to Story

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Municipal Bond Credit Report: South Carolina lawmakers will dig deeper into selling state-owned Santee Cooper after receiving a report indicating high interest from companies willing to lower electricity rates and take out the public utility’s $8 billion in debt…. Link to Story

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Municipal Bond Credit Report: Moody’s Investors Service upgraded Newark to Baa2 from Baa3 Monday, with a positive outlook, ahead of a $51.1 million general obligation bond competitive sale slated for Feb. 14. Moody’s had revised the city’s outlook to positive from negative 13 months ago due largely to momentum from redevelopment efforts…. Link to Story

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Municipal Bond Credit Report: Sacramento City Unified School District’s budget crisis has resulted in multi-notch downgrades from two rating agencies. Moody’s downgraded the school district’s ratings two notches to A2 from Aa3 on Friday and revised the outlook to negative from stable on $327 million in general obligation debt it rates…. Link to Story

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Municipal Bond Credit Report: The risk of default is more elevated for junk-rated Detroit Local Development Finance Authority’s subordinate lien tax increment financing bonds issued in 1997 to finance costs tied to the construction of an auto plant, S&P Global ratings said…. Link to Story

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Municipal Bond Credit Report: Moody’s Investors Service upgraded Jamestown’s issuer and general obligation limited tax obligation ratings to Baa3 from Ba1 Wednesday citing modest budgetary improvements while facing limitations on raising new revenues. Jamestown, whose credit outlook was concurrently revised to stable from negative, has limited revenue-raising powers because the city’s property tax levy cap…

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Municipal Bond Credit Report: Hawaii plans to price $550 million in general obligation bonds next week. The Hawaii finance team doesn’t expect the market’s volatility to hamper buyer interest…. Link to Story

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Municipal Bond Credit Report: Westminster, Md.’s Mayor and Common Council approved an ordinance on Monday, Jan. 28, allowing the city to take out almost $30 million in state loans for its approximately $70 million wastewater treatment facility overhaul — which has been deemed the biggest project in city history…. Link to Story

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