Tag: Municipal Bond Credit Research
-
Municipal Bond Credit Report: How lottery fund and asset transfers could shore up Connecticut pensions
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Connecticut Treasurer Denise Nappier recommended using lottery revenues and transferring underused state assets into a trust to shore up the Teachers’ Retirement Fund, the state’s largest pension system…. Link to Story
-
Municipal Bond Credit Report: Westchester County charting a course to structural balance
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Westchester County, New York, Executive George Latimer’s first budget seeks to restore fiscal health after years of operating deficits. Latimer said his $1.94 billion fiscal 2019 budget would not dip into reserves and implements a hiring freeze, among other measures designed to put the county of 980,000 that sits north of…
-
Municipal Bond Credit Report: All Aboard Florida’s Brightline trains to rebrand as Virgin
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Richard Branson, the British billionaire who wants to transform air travel with supersonic jets, has put his sights on something decidedly more down to Earth: a passenger railroad. Branson has agreed to make a small investment and lend the Virgin brand to Fortress Investment Group’s Florida railroad, the first privately-funded intercity…
-
Municipal Bond Credit Report: Criteria shift ends triple-A status of New York PIT, sales tax bonds
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: New ratings criteria ended the triple-A status of two New York State bond credits. S&P Global Ratings downgraded New York’s long-term personal income tax and sales tax bonds one notch to AA-plus Wednesday citing its new priority-lien tax revenue debt criteria released last month. … Link to Story
-
Municipal Bond Credit Report: City health sets Philadelphia School District closer to upgrade
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Philadelphia’s improved fiscal conditions have positioned the city’s junk-raked school district for a rating boost. Moody’s Investors Service placed its Ba2-rated Philadelphia School District bonds on review for an upgrade Tuesday, citing the city’s strengthening economy and increased tax support for the school system…. Link to Story
-
Municipal Bond Credit Report: A Chicago suburb is cut four notches over pension burden
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: CHICAGO — The southern Chicago suburb of Oak Lawn took a four-notch rating cut over budget and pension strains. S&P Global Ratings dropped the village’s rating to BBB from A-plus and assigned a negative outlook. … Link to Story
-
Municipal Bond Credit Report: Wildfire’s destruction of California town creates uncharted credit territory
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The deadly wildfire that left the town of Paradise, California, in ruins may become a test case for the municipal bond market.“The situation casts doubt on whether the local government can meet over $3.5 million in annual payments to pension obligation bondholders, CalPERS and retiree healthcare plan participants,” wrote Marc Joffe,…