Broward County, Florida’s Tourism Development Tax, sales tax, and Professional Sports Facilities tax and revenue refunding bonds were upgraded by Moody’s Ratings, affecting about $628 million in bonds. Moody’s upgraded the county’s TDT revenue bonds, Series 2021 (Convention Center Expansion Project) to Aa2 from Aa3; sales tax bonds, Series 2020, to Aaa from Aa1; and

Houston Mayor John Whitmire took aim Thursday at city Controller Chris Hollins for soliciting sponsorships from municipal bond firms for an upcoming investor conference, saying it smacks of pay-to-play and calling for an investigation. The mayor said he received calls from bond underwriting firms about sponsorships for Tuesday’s event with price tags ranging from $10,000

The public private partnership that took over Puerto Rico toll roads out of the territory’s bankruptcy is gearing up to sell municipal debt for the enterprise. The Wisconsin-based Public Finance Authority will be pricing the $286.2 million in senior revenue bonds on behalf of Puerto Rico Tollroads, LLC. Barclays is an underwriter. Fitch Ratings rates

Bloomberg News Where California goes, the nation follows, the saying goes, and it appears to be true when it comes to the California Public Employees’ Retirement System. The nation’s largest public pension fund had $502.9 billion in assets under management at the end of fiscal 2024, it announced in a July news release. A preliminary

A stalwart municipal market veteran, devoted friend, and beloved husband and father, George C. Mulry III, a managing director in public finance marketing at Assured Guaranty, died on Oct. 9. He was 64 years old. Mulry is remembered for the lives he touched and his unimpeachable work ethic. He spent nearly 40 years in the

Municipals were firmer Wednesday as muni mutual funds saw inflows top $2 billion and Pennsylvania led the new-issue calendar with $1.6 million of general obligation bonds in three series. U.S. Treasury yields fell slightly and equities ended up. The two-year muni-to-Treasury ratio Wednesday was at 63%, the three-year at 62%, the five-year at 64%, the

Housing advocates are pressing the House Committee on Ways and Means to pass long-simmering legislation that includes expanding the use of Private Activity Bonds to support affordable housing efforts.   “We remain hopeful there will be legislation in the lame duck session of Congress to enact these sorely-needed proposals, which would increase the housing credit allocation

California federal and state lawmakers broke ground for a 750-acre project to restore the Salton Sea that received $250 million from the federal Inflation Reduction Act. The Salton Sea is a shallow, landlocked, highly salt lake in Riverside and Imperial counties in southern California near the Mexican border. Funding for a series of projects, including

Florida continues to work to reduce its debt load, offering a tender to holders of $1.4 billion of bonds, nearly 10% of its par outstanding, using its own cash without the sale of refunding bonds. Issuers have turned to tenders since the Tax Cuts and Jobs Act of 2017 eliminated the tax-exempt advanced refunding option.

Municipals were little changed Tuesday as investors await a surge of new issuance to hit the market Wednesday and Thursday. U.S. Treasuries rallied out long and equities ended down. Two weeks into the fourth quarter of the year, munis are posting negative returns in October, down 0.56%, bringing year-to-date returns down to 1.72%, said Jason