Municipal Markets >>>
Philadelphia wants to create its first blight-fighting district in eight years, financed by a type of municipal debt for which sales have dwindled to a fifth of the pre-recession pace. Click here to continue reading sample article.
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Voters in Florida’s most-populous county will decide next week whether to pay higher taxes and sell a record $830 million of debt for their flagship public hospital to help it prepare for Obamacare. Click here to continue reading.
U.S. debt-ceiling deal has unleashed the biggest wave of municipal borrowing since July, driving local bonds to the cheapest in almost two months versus Treasuries and luring buyers such as Deutsche Bank AG’s private-wealth unit. Click here to continue reading.
Seven years ago, in the wake of a government shutdown caused by a $740 million budget deficit, Puerto Rican officials vowed to fix the island’s finances by 2010. Now investors are calling their bluff. Click here to continue reading.
The $188 billion market for Build America Bonds is set to trail the rest of municipal debt for the first time as issuers face cuts to their federal subsidies while investors bet interest rates will rise. The taxable debt created under President Barack Obama’s 2009 stimulus plan has lost 6.1 percent this year, compared with a 3.7 percent drop for the $3.7 [...]
Harrisburg is set to be the first city in three years to lease its parking operations, part of a plan to rid Pennsylvania’s insolvent capital of $363 million of debt from an ill-fated incinerator project. Click here to continue reading.
Meredith Whitney, who built her own Wall Street advisory firm after winning renown for a 2007 call on Citigroup Inc., deregistered her brokerage unit after three unprofitable years and is setting up an investment fund, according to industry records. Click here to continue reading sample article.
Texas public charter schools, the fastest-growing part of the state’s education system, are poised to see their bonds go to top grade from near junk as a $33 billion fund backed by oil revenue prepares to guarantee the securities for the first time. Click here to continue reading.
Municipal-bond investors are among the biggest losers from the Justice Department’s suit to block a planned $11.5 billion merger between US Airways Group Inc. and AMR Corp., parent of American Airlines. Click here to continue reading.