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Municipalities are making draws on reserves as revenues fall due to the pandemic.
June 9 -
The SEC has asked for more timely, voluntary disclosure from issuers of municipal bonds.
June 5 -
State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.
June 2 -
The announcement comes at a pivotal time for the municipal market as the SEC released a statement earlier this month detailing the kinds of coronavirus disclosures municipalities should be making.
May 22 -
The MSRB also said more municipalities have begun referencing CARES Act loans in their disclosures.
May 19 -
It is feasible that not all COVID-19 filings are or will be material but one may want to err on the side of caution in this regard.
May 12Lumesis Inc. -
More issuers are missing bond payments and deadlines for filing annual financials; the Roman Catholic Church of the Archdiocese of New Orleans filed for bankruptcy partially blaming COVID-19, affecting $41 million of bonds.
May 12 -
Mark Kim, MSRB chief operating officer, predicted even more disclosures in the near future.
May 5 -
The SEC encouraged issuers to provide investors with forward-looking information as to how the pandemic will affect future finances.
May 5 -
In a weekly COVID-19 disclosure report released Tuesday, included among the hundreds of disclosures were two unscheduled draws on debt service reserves.
April 28