Trade Lively

San Antonio’s CPS Energy will head to the municipal bond market next month with a big debt sale involving a tender offer and improved outlooks for two of its credit ratings. Fitch Ratings and S&P Global Ratings, which both rated the upcoming $1.05 billion electric and gas systems revenue bond deal AA-minus, revised their outlooks

States are casting around for solutions to a drop in gas tax revenues which includes hiked registration fees and the expansion of toll roads, which remains politically sensitive.  “Various projections from state DOTs, think tanks, and economists show that gas tax revenue, which is the largest source of revenue for state transportation trust funds, is

California Gov. Gavin Newsom is seeking to halt the trend of property insurers exiting the state, citing losses, by expediting how quickly they can increase rates. Newsom announced plans to draft a trailer bill to speed up work done by the state’s Insurance Commissioner Ricardo Lara during Friday’s briefing on May revisions to his proposed

Texas Capital is starting a public finance business in Texas, hiring a former UBS Financial Services investment banker, the company announced Wednesday. The move by the Dallas-based financial services firm comes as the ranks of underwriters in Texas have thinned under state laws that prohibit contracts with companies that “boycott” or “discriminate” against the fossil

Wood-pellet manufacturer Enviva Inc.’s bankruptcy has pushed $353 million of municipal bonds along with a wider $2.6 billion pot of debt into a Chapter 11 corporate reorganization. The municipal bonds are the $252 million in outstanding Series 2022 Industrial Development Authority of Sumter County Exempt Facilities revenue bonds in Alabama and $101 million in outstanding

How much the federal government can contribute to rebuilding the originally bond-financed Francis Scott Key Bridge is now a concern for the House Committee on Transportation and Infrastructure.  “Hours after the collapse, President Biden announced his intention for the federal government to pay for the entire cost of reconstructing the Key Bridge,” said Committee Chair

The Turnpike Authority of Kentucky approved the sale of $128 million of revenue bonds, with the proceeds to be used to refund the authority’s Series 2010B Build America Bonds. TAK Treasurer Steve Starkweather said he expects the authority to price the bonds June 6 with an all-in true interest cost of 3.216%. They are to

The Colorado Legislature ended its session last week after passing a fiscal 2025 budget, school funding changes, a property tax cut, and measures aimed at pushing multi-billion-dollar passenger rail projects and a bond-financed purchase of an historic hotel forward.  State officials celebrated a legislative session Senate President Steve Fenberg called “nothing short of transformational” at

California budget watchers, who were bracing for another series of cuts to close the state’s now $44.9 billion deficit, saw those fears realized when the governor released his May budget revisions. The state needs to solve deficits projected for the next two years, not just this year, California Gov. Gavin Newsom said Friday during his