Tag: Municipal Bond Credit
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Municipal Bond Credit Report: Detroit has $63M surplus, deficit free two years in a row
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The city of Detroit ended the 2016 fiscal year with a $63 million surplus, marking its second consecutive balanced budget out of bankruptcy, an achievement officials hope will earn it better standing in the bond markets and a path out of financial oversight… Link to Story
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Municipal Bond Credit Report: Wayne County, Michigan wins back an investment grade rating
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Wayne County, Michigan won back one of its investment grade ratings, positive news the county hopes to parlay into reduced costs to complete its jail project… Link to Story
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Municipal Bond Credit Report: How a shrinking state workforce threw off Kentucky's pension funding formula
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Key assumptions underpinning Kentucky’s pension system propelled a meteoric rise in unfunded obligations that led some analysts to call it the worst-funded state retirement plan in the country… Link to Story
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Municipal Bond Credit Report: Bankruptcy "worst" option for cash-strapped Chicago district
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Bankruptcy is the “worst” option to cure junk-rated Chicago Public Schools’ fiscal ills, schools chief Forrest Claypool said Tuesday… Link to Story
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Municipal Bond Credit Report: More Puerto Rico Agencies Enter Bankruptcy
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The federal board overseeing Puerto Rico’s financial rehabilitation is enlarging the U.S. territory’s court-supervised bankruptcy, placing its nearly depleted pension system and its transportation agency under court protection… Link to Story
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Municipal Bond Credit Report: Under fire, Emanuel defends ‘payday loan’ plan to borrow $389M for CPS
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Under fire for authorizing a “payday loan,” Mayor Rahm Emanuel on Friday defended his plan to let the Chicago Public Schools borrow $389 million secured by late block grants owed by the state… Link to Story
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Municipal Bond Credit Report: Connecticut Rating Downgraded Again As Lawmakers Negotiate Budget
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: In another sign of Connecticut’s wobbly finances, a Wall Street bond rating agency has downgraded the state’s bond rating for the third time in less than a week… Link to Story
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Municipal Bond Credit Report: Georgia, South Carolina public power agencies face new warnings on nuclear plant costs
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Public power agencies in Georgia and South Carolina with stakes in uncompleted nuclear plants face new warnings about rising costs and potential rating downgrades amid the contractor’s bankruptcy… Link to Story
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Municipal Bond Credit Report: Hoover Institution Essay – Hidden Debt, Hidden Deficits: 2017 Edition
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The unfunded obligations of the pension systems sponsored by state and local governments in the United States continue to grow… Link to Story
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Municipal Bond Credit Report: Hartford, CT's Rating Cut to 1 Notch Above "Junk"
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Given Connecticut budget uncertainties, S&P Global Ratings has lowered its rating on the city of Hartford’s general obligation bonds to ‘BBB-‘ from ‘BBB’ — just above “junk-bond” status — and placed the city on a credit watch, the ratings agency said Monday… Link to Story