1971: WPPSS starts borrowing money to build nuclear plants, and
1975: Construction starts on four additional nuclear plants.
1982: After years of huge cost overruns, two nuclear plants, Projects 4
1983: The biggest municipal bond default ever, $2.25 billion, occurs
1984: Project 2 begins operating.
1989: The utility returns to the bond market for the first of 14
1994: Projects 1 and 3 are formally cancelled.
1999: WPPSS cuts its price of power from 3.5 cents per kilowatt hour in
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.
The Trump administration may cut the Affordable Care Act and Medicaid, which threatens to land on a hospital sector still recovering from the COVID-19 pandemic.
