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On Monday, the Department of Transportation announced the winners of $4.2 billion in grants flowing from the Biden Administration’s infrastructure legislative crown jewel.  “Thanks to the Bipartisan Infrastructure Law, the Biden-Harris administration is carrying out ambitious, complex transportation projects that will shape our country’s infrastructure for generations to come,” said U.S. Transportation Secretary Pete Buttigieg.  “With

The public private partnership that took over Puerto Rico toll roads out of the territory’s bankruptcy is gearing up to sell municipal debt for the enterprise. The Wisconsin-based Public Finance Authority will be pricing the $286.2 million in senior revenue bonds on behalf of Puerto Rico Tollroads, LLC. Barclays is an underwriter. Fitch Ratings rates

Broward County, Florida’s Tourism Development Tax, sales tax, and Professional Sports Facilities tax and revenue refunding bonds were upgraded by Moody’s Ratings, affecting about $628 million in bonds. Moody’s upgraded the county’s TDT revenue bonds, Series 2021 (Convention Center Expansion Project) to Aa2 from Aa3; sales tax bonds, Series 2020, to Aaa from Aa1; and

Hyman Grossman, former head of public finance at S&P and longtime industry veteran known for expanding S&P’s public finance analytics team from its early days into the giant it now is, as well as great friend, family man and mentor to many, has passed away at the age of 89. “He was an analyst covering

Municipals were little changed Friday ahead of another robust new-issue week while U.S. Treasuries made some gains and equities closed in the black. “Strong September employment numbers and a somewhat higher CPI reading continued to reverberate through the bond market,” said BofA Global Research strategists Yingchen Li and Ian Rogow in a weekly report. “This,

Bloomberg News Where California goes, the nation follows, the saying goes, and it appears to be true when it comes to the California Public Employees’ Retirement System. The nation’s largest public pension fund had $502.9 billion in assets under management at the end of fiscal 2024, it announced in a July news release. A preliminary

A stalwart municipal market veteran, devoted friend, and beloved husband and father, George C. Mulry III, a managing director in public finance marketing at Assured Guaranty, died on Oct. 9. He was 64 years old. Mulry is remembered for the lives he touched and his unimpeachable work ethic. He spent nearly 40 years in the

As the people in the path of Hurricanes Helene and Milton continue to dig out from the damage, the municipal bond market continues to assess the storms’ impact on public finance in the Southeast. Hurricane Helene made landfall on the Florida Panhandle Sept. 26 and tracked north, where it did its worst damage in the

Municipals were firmer Wednesday as muni mutual funds saw inflows top $2 billion and Pennsylvania led the new-issue calendar with $1.6 million of general obligation bonds in three series. U.S. Treasury yields fell slightly and equities ended up. The two-year muni-to-Treasury ratio Wednesday was at 63%, the three-year at 62%, the five-year at 64%, the

Florida continues to work to reduce its debt load, offering a tender to holders of $1.4 billion of bonds, nearly 10% of its par outstanding, using its own cash without the sale of refunding bonds. Issuers have turned to tenders since the Tax Cuts and Jobs Act of 2017 eliminated the tax-exempt advanced refunding option.