Tag: Municipal Bond Credit
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Municipal Bond Credit Report: Coronavirus restrictions pressure New Jersey casino authority
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Financial hits to Atlantic City’s hospitality industry from state limitations aimed at curbing the spread of COVID-19 are hindering a state agency reliant on luxury tax revenues to pay debt service on outstanding bonds… Link to Story
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Municipal Bond Credit Report: Chicago’s rating outlook from Moody’s dims over coronavirus impact
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Chicago’s COVID-19 fiscal wounds spurred Moody’s Investors Service to move its outlook to negative on the city’s already-junk general obligation rating… Link to Story
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Municipal Bond Credit Report: Illinois voters reject progressive income tax system
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Illinois voters defeated a measure that would have allowed the state to raise taxes on its wealthiest residents, striking down a pillar of Gov. J.B. Pritzker’s plan for shoring up the state’s finances and preventing its debt from being cut to junk… Link to Story
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Municipal Bond Credit Report: U.S. Trade Deficit Narrowed in September as Exports Rose
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The U.S. trade deficit narrowed in September as exports continued to recover from the global economic downturn caused by the coronavirus pandemic while imports slowed… Link to Story
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Municipal Bond Credit Report: U.S. weekly jobless claims total 751,000, vs 778,000 expected
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The number of first-time unemployment-benefits filers fell to the lowest level in the pandemic, declining for a second straight week, the Labor Department reported Thursday… Link to Story
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Municipal Bond Credit Report: Chicago rating outlook gets Fitch Ratings cut to negative
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Fitch Ratings cut the outlook to negative from stable Wednesday on Chicago’s BBB-minus general obligation bond rating… Link to Story
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Municipal Bond Credit Report: U.S. Economy Recovered Significant Ground in Record Third-Quarter GDP Rebound
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The economy grew at a record pace in the third quarter—increasing 7.4% over the prior quarter and at a 33.1% annual rate—recovering about two-thirds of the ground it lost earlier in the coronavirus pandemic… Link to Story
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Municipal Bond Credit Report: U.S. States Face Biggest Cash Crisis Since the Great Depression
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The drop in tax revenue has led to a total shortfall expected in the hundreds of billions of dollars—greater than 2019’s K-12 education budget for every state combined, or more than twice the amount spent that year on state roads and other transportation infrastructure… Link to Story
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Municipal Bond Credit Report: U.S. Jobless Claims Fall to Lowest Level Since Start of Coronavirus Pandemic
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The number of Americans filing initial claims for unemployment insurance fell last week to the lowest level since the pandemic began, suggesting layoffs are easing despite a rise in coronavirus infections… Link to Story
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Municipal Bond Credit Report: Coronavirus triggers a convention center hotel reserve draw
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Low revenue from a hotel occupancy rate of just 36% led the Myrtle Beach Convention Center Hotel Corp. in South Carolina to tap its debt service reserve fund to make an interest payment this month… Link to Story