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PREPA bondholders said if the board continues its current approach there will be years more of litigation with outcomes showing the board’s positions are “baseless.” Puerto Rico Electric Power Authority bondholders told the bankruptcy court they may challenge all Oversight Board’s advisory fees. The group of opposing bondholders, which hold or insure 61% of PREPA’s

“A key credit risk for airports is financial exposure from litigation, which is generally mitigated by insurance,” said Kurt Forsgren, US Public Finance Managing Director, S&P Global Ratings. ”While safety concerns could weaken an airport’s desirability and demand over the long term, this hasn’t been observed for major US airports.”S&P Global Ratings A history of close

Scott Mitchell has been appointed CEO of InspereX after the firm experienced a banner year. Scott Mitchell, a 20-year veteran of J.P. Morgan, has joined InspereX as its CEO, succeeding former CEO John DesPrez III. “The firm just has great people, and a really unique culture, even then, and even more so now, the breadth

MSRB Chief Economist Simon Wu A report published by the Municipal Securities Rulemaking Board Thursday identified yields and market volatility as key drivers of secondary market trading volume in the municipal securities market, which has seen a record number of trades in each of the past three years. For their report, authors Simon Wu and

“This budget resolution provides the fiscal framework for what will be one of the most consequential pieces of legislation in modern history and the principal legislative vehicle for delivering on President Trump’s America First agenda,” House Budget Chairman Jodey Arrington, R-Texas, said.Allison Robbert/Bloomberg The House Budget Committee late Thursday passed a partisan budget resolution that clears

Sweetwater Union High School District broke ground in May on Castle Park High School’s football stadium. The project is funded partly by the district’s municipal bond program.Sweetwater Union High School District A San Diego-area high school district barred from market access four years ago will ride in Wednesday with a lift from a ratings upgrade

<img src=”https://public.flourish.studio/visualisation/21620339/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Thursday, as U.S. Treasury yields rallied and equities ended up. The two-year municipal to UST ratio Thursday was at 63%, the five-year at 64%, the 10-year at 67% and the 30-year at 86%, according to Municipal Market Data’s 3 p.m. EST read. ICE Data Services had

“Losing tax-exempt bonds would devastate American communities and set economic development efforts back decades,” said Toby Rittner, president and CEO of the Council of Development Finance Agencies. ”Communities use bonds to finance their built environment, infrastructure, schools and future growth needs. The housing industry uses bonds for affordable, senior and workforce housing. There are no alternatives

Ohio Gov. Mike DeWine speaks at a public event in 2023. The governor’s stadium financing plan marks a departure from the norm in several ways.Bloomberg News Ohio Gov. Mike DeWine wants to raise the sports gaming tax to 40% from 20% to pay for stadium construction in the state. And DeWine does not want the

<img src=”https://public.flourish.studio/visualisation/21601827/thumbnail” width=”100%” alt=”chart visualization” /> Municipals sold off Wednesday, moving higher in sympathy with U.S. Treasuries after hotter-than-expected inflation data showed the Fed may not be able to cut rates this year. Equities ended mixed. Muni yields were cut six to 12 basis points Wednesday, depending on the curve, while UST yields rose eight

Enjoy complimentary access to top ideas and insights — selected by our editors. Republican legislators have placed tax-exempt bonds on the regulatory chopping block — as the cost to renew expiring provisions of President Donald Trump’s 2017 Tax Cuts and Jobs Act continues to grow — putting municipal leaders in the eye of a storm.