The Deal of the Year awards, presented Wednesday, recognize innovation in municipal finance and this year’s nominees had to deal with the COVID-19 pandemic in addition to other challenges.
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The Trump administration will bring a shift in infrastructure priorities.
Several metropolitan districts, which finance public infrastructure for housing developments, tapped contingent liquidity for debt service payments this month.
Munis "continued their slide" last week as yields rose an average of 23 basis points across the curve as the Fed Chairman Jerome Powell signaled the Fed will take a "more cautious approach" on interest rate cuts next year, said Jason Wong, vice president of municipals at AmeriVet Securities.
S&P Global Ratings downgraded San Francisco's debt a notch to AA-plus from AAA citing weakened economic trends and deficit spending. Moody's Ratings lowered it's rating a notch to Aa1 in October.
The ratings agency cited strong and growing activity and favorable economic trends in the region.
The finally approved continuing resolution steers around the debate to raise the debt ceiling while funding repairs to the toll-supported Key Bridge in Baltimore, reimbursing DC for inauguration costs and transferring the RFK stadium site.
