Private-activity bonds backing the long-planned Purple line light rail system in Maryland received a credit boost following approval of a financial settlement that contains protections for bondholders of the beleaguered public-private partnership. Fitch Ratings upgraded Purple Line Transit Partners’ senior-lien revenue bonds issued through the Maryland Economic Development Corporation (MEDC) by

Even with the novel coronavirus pandemic taking a hit on Florida's revenues, the state projects it will have debt capacity available to finance capital needs over the next decade. The Sunshine State can borrow up to $6.6 billion in fiscal 2022 and up to $34.1 billion over the next 10 years

This article is part of a series spotlighting The Bond Buyer’s ten 2020 Deal of the Year award winners, running from December 9 through 15. One of these honorees will be chosen as our national Deal of the Year at a virtual event taking place December 16. For more information

President Donald Trump said Monday he planned to appoint Antonio Medina Comas to the Puerto Rico Oversight Board. Medina Comas served as Executive Director to the Puerto Rico Industrial Development Company from 2012 to 2016. He spent 20 years at pharmaceutical company Merck Sharp & Dohme, starting as an industrial engineer

As we contemplate the state of the municipal market today, issuance and the strong demand for many types of municipal bonds provide an “all is well” feeling. Many of us recall that scene from Animal House where Chip Diller (aka Kevin Bacon), dressed in his auxiliary police uniform, implored all

Florida's elected Cabinet has authorized seven bond issues that combined represent one of the largest amounts of new debt approved by the panel at one time. The Cabinet at its last meeting of the year Tuesday unanimously granted requests to issue more than $2.06 billion of bonds made by Division of

“Undoubtedly, depending on the course of

While manufacturing in the New York region was slower in December, respondents to the Empire State manufacturing survey were more optimistic about six months ahead. The current general business conditions index fell to 4.9 in December from 6.3 in November, suggesting expansion at a slower pace, but the six months ahead

The Illinois Sports Facilities Authority is sounding alarms over its dismal fiscal picture heading into fiscal 2022 in the absence of a strong economic recovery that fuels a big pickup in hotel tax revenues or a debt restructuring to eases near-term pressures. Bolstered by the use of a special reserves, the

The Port Authority of New York and New Jersey's scaled down 2021 $7.3 billion budget includes plans to sell $3.6 billion of bonds in 2021, as it deals with massive revenue losses caused by the COVID-19 pandemic. The bi-state agency’s fiscal plan will be voted on Thursday. Debt service payments would