Tag: Municipal Bond Credit

Municipal Bond Credit Report: Moody’s Investors Service has downgraded the City of Hartford, CT’s general obligation debt rating to Caa1 from B2. The rating is under review for possible downgrade. Debt affected totals approximately $550 million… Link to Story

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Municipal Bond Credit Report: The state has not had a budget since July 1 and the governor has released a budget proposal this morning that includes raising the sales tax from 6.35 percent to 6.5 percent and the tax on restaurants from 6.35 percent to 7 percent… Link to Story

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Municipal Bond Credit Report: school funding bill passed by the Illinois General Assembly on Tuesday would help prop up the $9.8 billion Chicago Public School Teachers’ Pension & Retirement Fund with an additional $209 million contribution from the state… Link to Story

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Municipal Bond Credit Report: Moody’s Investors Service has upgraded the enhanced ratings of 58 North Dakota school districts from Aa3 to Aa2… Link to Story

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Municipal Bond Credit Report: Fitch Ratings believes the short-term fiscal impact of Hurricane Harvey on public entities in affected areas of Texas and Louisiana will largely be mitigated by their financial flexibility and support from federal and state governments and private insurance policies… Link to Story

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Municipal Bond Credit Report: A Kentucky school district wants bondholders to focus on its fiscal strengths amid a pension crisis that spurred the downgrade of an important state credit enhancement program… Link to Story

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Municipal Bond Credit Report: In an unprecedented ruling, an appellate court declared the city of Harvey so severely neglected its firefighters’ pension fund that it was on the verge of insolvency — meaning there might not be any money for retirees or firefighters on the job there today… Link to Story

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Municipal Bond Credit Report: Puerto Rico’s federal oversight board on Monday sued Governor Ricardo Rossello, saying he has no authority to reject planned employee furloughs and pension cuts the board says are necessary to pull the bankrupt U.S. territory from economic crisis… Link to Story

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Municipal Bond Credit Report: Chicago’s Board of Education approved on Monday a $5.7 billion budget that depends on a school funding reform package still being hammered out in Springfield — a measure board president Frank Clark revealed to be worth some $450 million to Chicago Public Schools… Link to Story

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Municipal Bond Credit Report: After Hurricane Harvey’s floodwaters subside and the emergency crews leave, credit analysts will assess the damage to tax bases after the storm inundated Houston and most of southeast Texas over the weekend… Link to Story

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