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Investors should be aware of risks that Build America Bonds pose if called under an extraordinary redemption provision, as many of these could result in losses, especially if the bonds were purchased at a premium,the Municipal Securities Rulemaking Board warned Friday. That comes amid expectations that issuers will redeem $20 to $30 billion in BABs

With about 94% of the $55 billion of federal funding from the 2021 Infrastructure Investment and Jobs Act for the country’s water and wastewater needs yet to be disbursed, issuers may not need much in the way of municipal bonds for water infrastructure, analysts said. Bond issuance for water and sewer purposes declined 6.7% to

Collin Teague has joined Siebert Williams Shank & Co. as a managing director in the company’s public finance group in New York, the firm announced Thursday. Teague was most recently an executive director in the municipal securities department at Morgan Stanley. “Collin joining us is further evidence of our commitment to growing our public finance

Municipals saw losses Thursday following U.S. Treasuries to higher yields, while equities sold off after GDP growth slowed in the first quarter. While growth slowed, inflation was hotter, said ING Chief International Economist James Knightley, as the core PCE deflator rose 3.7% on an annualized basis, three-tenths of a point higher than expected. “Unsurprisingly Treasury yields

The Mayo Clinic has ambitious plans that start at home. When the Rochester, Minnesota-based nonprofit healthcare system updated its five-year plan last year, it said the move was part of a “strategy to transform healthcare globally.” The update reflected changes from a $5 billion expansion of Mayo’s flagship Rochester campus.  Mayo’s board of trustees approved

The California Supreme Court has granted review of a case challenging retirement reforms state lawmakers approved 11 years ago, marking a return of pension spiking questions to the high court for the first time since a 2020 ruling on an Alameda County case. The new case — Ventura County Employees’ Retirement Association v. Criminal Justice

The U.S. Virgin Islands Legislature complained about the governor’s lack of consultation before he declared a state of emergency to pay off Water and Power Authority debts. The legislature gathered Tuesday to express its concerns about Gov. Albert Bryan’s Monday action, which used the emergency declaration to authorize spending the government’s rainy-day funds for WAPA

Moody’s Ratings on Monday revised Illinois’ outlook to positive from stable. The rating agency also affirmed the state’s A3 issuer rating and the A3 rating on Illinois’ general obligation debt and Build Illinois sales tax bonds. It assigned a rating of A3 to $1.8 billion of forthcoming Illinois GO bonds. The new bonds include $250

The Securities and Exchange Commission has won its first ever case enforcing Municipal Securities Rulemaking Board Rule G-42 on the duties of non-solicitor municipal advisors after a federal judge in U.S. District Court for the Southern District of California granted partial summary judgment against Choice Advisors and its principal Matthias O’Meara. The court found that

Fitch Ratings affirmed both Miami Jewish Health Systems and Subsidiaries long-term issuer default ratings and the the city of Miami Health Facilities Authority’s $41 million of Series 2017 revenue bonds issued by on behalf of MJHS at speculative-grade BB-plus. The rating outlook on both is negative, Fitch said. “The affirmation reflects good growth in the