The move would not resolve structural budget gaps, according to the rating agency.
The fate of the state budget and ratings may depend on the progressive income tax ballot measure. Midwest voters also face $2.3 billion of bond measures Tuesday.
Financial hits to Atlantic City's hospitality industry from state limitations aimed at curbing the spread of COVID-19 are hindering a state agency reliant on luxury tax revenues to pay debt service on outstanding bonds.
This is the Lone Star State's only bond election day in 2020 after the May date was canceled because of the COVID-19 pandemic.
The American Securities Association wants to see a municipal debt purchase program extended past the end of the year, but Treasury has indicated that is unlikely.
Virus effects have battered New York City’s economy and by extension, the city’s budget and credit standing.
Moody’s on Thursday joined Fitch and S&P Global Ratings in moving the city’s rating outlook to negative. It has rated Chicago at speculative grade since 2015.
The most significant revenue loss in Florida continues to be the drop in sales tax collections in the tourism and hospitality industries.
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The most significant revenue loss in Florida continues to be the drop in sales tax collections in the tourism and hospitality industries.
October 29
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Sowjana Sivaloganathan, director of fixed income at Intercontinental Exchange, and Patrick Smith, director of municipal evaluations at ICE Data Services, talk about how ICE and its Muni Curve has evolved in the muni space, the challenges COVID has presented and the transparency measures they have undertaken. Lynne Funk hosts. (30 minutes)
October 29
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The transit agency — its revenues battered, its credit standing weakened and with no federal rescue aid in sight — looks to borrow its remaining $2.9 billion available through the Municipal Liquidity Facility.
October 29
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By putting a negative outlook on its BBB-minus rating, Fitch leaves Chicago little room to avoid being saddled with a second speculative-grade rating.
October 28
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With the economy offering positive and negative signs, economists have differing views on the recovery.
October 28
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California's progressive tax system preserved revenues amid the COVID-19 pandemic, Legislative Analyst Gabriel Petek told a Bond Buyer conference audience.
October 28
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As more people work from home, people could be more focused on building out broadband infrastructure.
October 28
