Southeast

The muni market saw $507.585 billion of debt issued in 2024, up 31.8% from $385.061 in 2023. This surpasses the previous record of $484.601 billion in 2020 by more than $20 billion, per LSEG data.

"It's an unfortunate part of doing business," said an investor.

A new law and constitutional amendment will restrict how fast property tax bills can rise on homestead properties, impacting local governments.

The ratings agency cited strong and growing activity and favorable economic trends in the region.

Moody's cited heavy reliance on reserves, potential for continued operating deficts, and a fall 2024 decline in enrollment as factors in the downgrade.

The challenge to the 2022 approval of bonds for a PACE program could "catastrophically undermine" the finality of all Florida bond validations, the agency said.

Despite the approval, hurdles remain, including the team's request for more money from the government, which they say delayed approval of the bonds, leading to additional construction costs.

Something less than $400 million of the bonds will be taxable bonds.

The president of St. Augustine University in North Carolina called the loan a "necessary evil" as it fights to remain solvent and accredited.

Brad Briner said the state may need to issue short-term debt in the near future to pay for Hurricane Helene expenses.