The top muni underwriters accounted for $406.51 billion in 10,582 transactions in 2019 compared to $320.35 billion in 8,549 deals in 2018. There was only one change in the top five year-over-year but spots six through 10 saw three changes. Barclays and Stifel both had big improvments in the rankings, while Raymond James dropped the most.
The budgeting constraints transformed the state's finances and bond ratings. But critics say the policy's downsides include the stifling of needed investments.
Municipals are seeing losses of 1.82% in December, which has dragged down overall gains to just 0.68% for 2024, per the Bloomberg Municipal Index.
Silver Point says it has done nothing wrong, and has retained prominent legal figures for its defense.
The bank's termination of its membership in the Net-Zero Banking Alliance ended a state review that could have led to a ban for governmental contracts.
The San Diego County-based hospital system's financial woes were dire enough to earn junk ratings from Fitch Ratings, Moody's Ratings and S&P Global Ratings earlier this year. Fitch further downgraded the already junk ratings on Wednesday.
Bond issuers are establishing common reserve funds to spur economic growth while also generating income, but risk is involved.
