Southwest

Laws banning banks from underwriting municipal bond deals because of their fossil fuel or firearm policies dramatically boosted underwriting spreads, a business group's study said.

The $650 million settlement will fund back pay for firefighters, who will also get future wage hikes.

Under a settlement agreement, the Texas Education Agency assigned two conservators to oversee IDEA Public Schools, which was the target of a probe into alleged financial and operational improprieties.

The state's transportation department plans to sell $200 million of highway fund revenue bonds this summer for its Eisenhower Legacy Transportation Program.

Gov. Michelle Lujan Grisham said her public-private sector plan to build a strategic water supply will remain a top priority after a bill for financing failed to advance in the legislature.

One investor is offloading the debt, while another sees an opportunity.

The Chapter 11 case for Harvest Gold Silica follows two other bankruptcy filings over the last year by entities that sold bonds through the Arizona Industrial Development Authority.

The rating agency cited the university's structural budget imbalance and management turnover among factors that drove the outlook revision to negative from stable.

State lawmakers last week passed bills including stadium financing to boost efforts to lure professional baseball and hockey teams to Salt Lake City.

High rates and high inflation, coupled with rich reserves, pushed off or delayed issuers coming to market in 2023, noted James Pruskowski, chief investment officer at 16Rock Asset Management.