The utility responded that it is not eligible to declare bankruptcy.
"Investors were not disappointed," said John Kerschner, global head of securitized products and portfolio manager at Janus Henderson. "Inflation came in softer than expected, leading to a tepid bond market rally" and ensuring a rate cut at the upcoming Federal Open Market Committee meeting.
The northern California school district has been struggling for years and on several occasions abandoned plans to consolidate schools, which rating agencies say might have shored up finances.
Jamie Doffermyre has worked in munis at Truist Securities, Citi and Merrill Lynch.
Mayor Brandon Johnson released to City Council a report from accounting firm Ernst & Young with recommendations for closing the city's structural budget gap.
Executing a successful bond issuance becomes simpler by combining long range planning, shorter-term timing and marshaling political support.
