Tag: Municipal Bond Credit
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Municipal Bond Credit Report: 2016 Municipal Trading Volume Hits Record
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Municipal bond volume reached an all-time high in 2016, driven by refundings in the middle of the year, as issuers looked to take advantage of low borrowing costs… Link to Story
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Municipal Bond Credit Report: Calpers Lowers Return Assumption
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The board of California’s state public pension system, Calpers, voted Wednesday to lower expectations for future investment returns, a step that will increase pressure on the budgets of towns and cities across the state… Link to Story
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Municipal Bond Credit Report: US Charges 3 in NY Pension Pay-To-Play
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A former portfolio manager who was responsible for investing $53 billion in New York State employee retirement funds took over $100,000 in bribes in exchange for steering more than $2 billion in fixed-income business to two brokers, earning them and their firms millions of dollars in commissions, federal authorities said on…
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Municipal Bond Credit Report: California Drivers Pay Up Due to Highway Patrol Pension
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: It was a deal that wasn’t supposed to cost taxpayers an extra dime. Now the state’s annual tab is in the billions, and the cost keeps climbing…. Link to Story
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Municipal Bond Credit Report: WSJ Reports Calper's Annual Return Target of 7.5% is too High
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Top officers of the largest U.S. pension fund want to lower their investment targets, a move that would trigger more pain for cash-strapped cities across California and set an increasingly cautious tone for those who manage retirement assets around the country… Link to Story
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Municipal Bond Credit Report: Texas Expects Lower Issuance for Second Straight Year
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Debt issuance from Texas state government is expected to fall about 25% in the current fiscal year compared to the previous year, according to the Texas Bond Review Board… Link to Story
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Municipal Bond Credit Report: Hartford Arena Quandary Confronts Connecticut
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The prospect of a state government that bleeds red ink backstopping an arena that does likewise could prompt a battle royal in Connecticut…. Link to Story
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Municipal Bond Credit Report: Moody's Downgrades Dallas to A1 over Pension Fund Concerns
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Moody’s downgrades Dallas over pension fund concerns 1 notch to A1. They have also kept it on negative watch. Only 14 months ago, they rated the same city with the same problems Aa1… Link to Story
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Municipal Bond Credit Report: Junk-rated Chicago Schools Issue Bonds Solely by Property Tax and Not by the District's General Obligation Pledge
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Ratings for the new bonds, backed by a $45 million a year property tax levy approved by the Chicago City Council in 2015, were not available. Because that tax revenue can only be used to fund capital projects and not operations, CPS is hoping bondholders will consider the debt a safer…
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Municipal Bond Credit Report: Dallas Police and Fire Pension Board Halts Lump Sum Withdrawals
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Dallas Police and Fire Pension System’s Board of Trustees suspended lump-sum withdrawals from the pension fund Thursday, staving off a possible restraining order and stopping $154 million in withdrawal requests. The fund has about $729 million in liquid assets. It needs to keep about $600 million on hand, meaning the…