Tag: Municipal Bond Credit
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Municipal Bond Credit Report: Texas school bond guarantee program nears capacity
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A top-rated Texas program that guarantees public school bonds is close to capacity amid a big wave of voter-approved debt to repair aging facilities and accommodate a growing student population… Link to Story
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Municipal Bond Credit Report: Biden Student-Loan Forgiveness Raises Inflation, Budget Risks
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: President Biden’s decision to cancel up to $20,000 in student debt for millions of borrowers will have broad economic consequences, including on inflation, consumer behavior and government budgets, though the degree of those effects is uncertain… Link to Story
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Municipal Bond Credit Report: GDPNow Model Latest estimate: 1.4 percent — August 24, 2022
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 1.4 percent on August 24, down from 1.6 percent on August 17. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of third-quarter real gross…
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Municipal Bond Credit Report: Reserve fund draws by small borrowers spiked during pandemic: Moody’s
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The COVID-19 pandemic led to a spike in smaller municipal borrowers raiding debt service reserve funds, a move that plugs temporary shortfalls but does not prevent defaults in the absence of long-term viability, Moody’s Investors Service said in a report… Link to Story
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Municipal Bond Credit Report: Rating cuts follow a Missouri city’s bankruptcy warning
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Two rating agencies cut Hazelwood, Missouri’s ratings this month as the city remains locked in a battle with a fire protection district over the cost for services that city officials have warned could lead to Chapter 9 bankruptcy… Link to Story
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Municipal Bond Credit Report: Municipal bonds for South Carolina wood pellet maker land in bankruptcy court
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A bankruptcy court in South Carolina is closer to deciding the fate of $12.5 million of municipal bonds… Link to Story
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Municipal Bond Credit Report: Mortgage Rates Slip to 5.13%
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The 30-year fixed mortgage rate averaged 5.13%, down from 5.22% last week and 5.81% in June, which was the highest rate since 2008, according to a survey by Freddie Mac… Link to Story
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Municipal Bond Credit Report: U.S. Home Sales Dropped in July for Sixth Straight Month
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: U.S. existing home sales fell in July for the sixth straight month, the longest streak of declines in more than eight years, as higher mortgage rates and a shortage of homes for sale are cooling this once red-hot market… Link to Story
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Municipal Bond Credit Report: A brush with default: Without budget, Trenton, N.J., in fiscal limbo
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: A budget impasse that’s left Trenton, New Jersey, without an approved budget well into the new fiscal year continues, despite a recent brush with default… Link to Story
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Municipal Bond Credit Report: Detroit returns to bankruptcy court for pension funding dispute
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Detroit is asking the bankruptcy court to require that its police and firefighters retirement system stick with a 30-year amortization period agreed to in the city’s plan of adjustment that paved the way for its Chapter 9 exit in 2014… Link to Story