Bonds

The Huntsville Healthcare Authority issued $190 million of hospital revenue bonds as it saw a financial rebound from tough post-pandemic conditions. The North Alabama-based public hospital operator, whose flagship Huntsville Hospital is the state’s second largest, structured the deal with a 2053 maturity and a mandatory tender date of June 1, 2030. Bond proceeds will

The guilty plea this month by Anaheim, California’s former mayor underscores the long slog the city faces in restoring its image and finances after an FBI corruption probe became public amid the city’s efforts to recover financially from the COVID-19 pandemic. Harry Sidhu, the ex-mayor, agreed to plead guilty to federal felony charges for obstructing

Although Oregon’s tax collections have stabilized after several quarters of unexpectedly rapid growth, the state expects to pay out a record-breaking $5.6 billion through its “kicker” rebate, according to state economists, while lawmakers expect to have more to spend on infrastructure and social programs. The previous record kicker was $1.9 billion in 2022. Taxpayers will

Pension obligation bonds may be on a list of options for Dallas officials as they tackle a persistent funding problem in the city’s retirement system. During a presentation to the city council last month on debt capacity for a 2024 general obligation bond referendum, Dallas Chief Financial Officer Jack Ireland said $400 million of available

The Federal Aviation Authority expects to release its latest airport terminal grant opportunity as soon as next week. The Airport Terminal Program offers up $1.2 billion in fiscal 2024 for projects that address the aging infrastructure of the nation’s airports. It’s a popular and competitive program that’s now in its third year of funding under

Oregon’s third-largest city is about to lose its only hospital, illustrating the fallout of pressured health-care systems across the country.  Operator PeaceHealth announced last week its plan to shutter University District hospital because of underutilization. The hospital in Eugene, which is home to the University of Oregon, loses an average of $2 million a month,

The Biden administration’s revised rule on the definition of polluted waterways threatens to delay transportation projects and drive up costs, road infrastructure groups warned last week after the Environmental Protection Agency released a revised rule that attempts to conform to a recent opinion from the U.S. Supreme Court. The EPA’s revised Waters of the United

Municipals were little changed ahead of the Labor Day weekend and a larger new-issue calendar led by California, while U.S. Treasuries were weaker after the August jobs report showed a slowing labor market. Equities ended mixed. Friday’s jobs report reinforced some market participants’ belief the Fed will opt to skip a rate hike at the

Investor-owned Georgia Power will recover capital costs associated with the over-budgeted construction of two new nuclear reactors from ratepayers, according to a preliminary agreement announced Thursday. Georgia Power and the Georgia Public Services Commission’s public interest advocacy staff agreed to a $7.56 billion cap on the amount of capital construction costs placed in the rate

The Department of Health and Human Services has sent a letter to the Drug Enforcement Agency recommending that marijuana be reclassified to Schedule III, down from Schedule I, and if passed, the change could have an impact on how local governments collect taxes on cannabis businesses. That’s the latest in the Biden Administration’s efforts towards

Municipals were steady to firmer in spots to close out August as inflows returned to muni mutual funds. U.S. Treasury yields fell and equities were mixed ahead of Friday’s employment report. Triple-A benchmarks were bumped up to three basis points, depending on the scale, while UST yields fell three to four basis points. The two-year

Municipals had a slightly firmer tone Wednesday while U.S. Treasuries were little changed and equities ended up. Triple-A yields fell one to three basis points, depending on the curve, while UST maintained levels in a subdued session. While munis underperformed UST Tuesday, “there has been firmness in the muni market throughout the past week,” said

As travelers take back to the skies, Atlanta brought a $706 million airport revenue bond deal to market this month with a sizable green bond component. The city’s sale that priced Aug. 16 came in seven series, including three designated as green bonds totaling $500 million. The deal was managed by BofA Securities and Ramirez

Bond parties in the Puerto Rico Electric Power Authority bankruptcy are appealing a ruling that has barred a receiver from being appointed in the case. Syncora Guarantee and GoldenTree Asset Management Monday filed an appeal notice of a ruling of U.S. District Judge Laura Taylor Swain that rejected their request for a removal of a

Municipals were firmer in spots Tuesday, underperforming a U.S. Treasury rally. Equities ended in the black. Over the last month or so there’s been some volatility in the muni market driven by the Treasury side, said Daryl Clements, municipal portfolio manager at AllianceBernstein. USTs, which continue to be affected by Fed and related market expectations,

Municipals were steady to start the week as U.S. Treasuries were firmer and equities ended the trading session up. The two-year muni-to-Treasury ratio Monday was at 63%, the three-year at 65%, the five-year at 66%, the 10-year at 70% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had

California has made significant enough progress on its transportation infrastructure that the state’s auditor has removed the sector from its high-risk list. The state auditor puts out an annual report to the governor with a list of state agencies that it believes need improvement because their deficiencies “pose a high risk to the state.” The

Wells Fargo is eligible to underwrite municipal bonds in Texas after the state attorney general’s office said Friday it was unable to determine that the investment bank discriminates against the firearm industry. A review of Wells Fargo’s standing letter of compliance with a Texas law prohibiting state and local government contracts with companies that discriminate

On Wednesday the Internal Revenue Service issued a notice of proposed adverse determination to the Port of Port Arthur Navigation District of Jefferson County, Texas, indicating that a 2017 $55 million bond issuance will be considered taxable, though attorneys caution that such situations nearly always resolve without impact to the investors. According to the notice posted on

Municipals were steady Friday ahead of a smaller new-issue calendar, while short-term Treasuries were weaker and equities rallied. The two-year muni-to-Treasury ratio Friday was at 63%, the three-year at 65%, the five-year at 66%, the 10-year at 70% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the