Rhode Island plans to price $227 million of general obligation debt Tuesday in a deal that underscores the state’s capital commitment to education. The competitive deal will price in two tranches: a $162.4 million tax-exempt Series A and $60.3 million federally taxable Series B. The bonds carry the AA rating of Fitch Ratings, Aa2 from
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Municipals were little changed Friday, largely ignoring a weaker U.S. Treasury market, ahead of a larger new-issue calendar that features several billion-dollar state general obligation deals. U.S. Treasury yields rose, pushing them to multiyear highs. The two-year closed above 4.5% and the 10-year eclipsed 4%. Equities ended down on continued concerns over inflation. Muni-UST ratios
An agreement among the Puerto Rico Oversight Board and the local government in the Puerto Rico Electric Power Authority bankruptcy leaves the latter with moderate power in the bankruptcy process, observers say. The board, the Puerto Rico Fiscal Agency and Financial Advisory Authority, and the PREPA bond trustee U.S. Bank National Association filed the agreement,
Bancroft Capital is beefing up its Dallas-based municipal bond team with the hiring of two individuals with extensive market experience. The certified service-disabled veteran-owned small business, which specializes in institutional brokerage and capital markets services, announced the addition of Alix Cethoute as director of municipal underwriting and Jack Logan as director of municipal sales. “Not
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CommonSpirit Health added disclosure of a ransomware attack to its offering statements this week as the nation’s largest not-for-profit system prepares to enter the market with a $1.5 billion transaction, underscoring the acute threats posed to borrowers across the municipal spectrum. The Chicago-based Catholic system created through the 2019 merger of Catholic Health Initiatives and
Liz Truss sacked her chancellor Kwasi Kwarteng and shredded her economic strategy on Friday, but her effort to salvage her premiership failed to win over financial markets and left Conservative MPs in a state of mutiny. In a Downing Street press conference lasting less than 10 minutes, Truss named Jeremy Hunt, former foreign secretary, as
The outlook on Hawaii’s Aa2 rating was lowered to stable from positive by Moody’s Investors Service ahead of an $800 million taxable general obligation bond deal. The outlook revision “reflects our expectation that given its significant tourism industry, lagging demographic trends, and already high cost of living, Hawaii is vulnerable to high inflation and potentially
In this article WFC DAL BYND PNC HHC Follow your favorite stocksCREATE FREE ACCOUNT Delta Airlines passenger jets are pictured outside the newly completed 1.3 million-square foot $4 billion Delta Airlines Terminal C at LaGuardia Airport in New York, June 1, 2022. Mike Segar | Reuters Check out the companies making headlines in midday trading
MakerDAO, the governing body of the Maker Protocol has seen its revenue plummet in the third quarter of 2022, caused by a fall in loan demand and few liquidations, while expenses have remained high. According to an Oct. 13 tweet by Johnny_TVL, a Messari analyst and co-author of “The State of Maker Q3 2022,” the
The United States Financial Accounting Standards Board (FASB)’s decision to allow companies to use “fair value” to account for their crypto holdings could be seen as another step toward the wider institutional adoption of cryptocurrency. During a meeting on Oct. 12, the FASB board made the decision to require entities to measure crypto assets at
Liz Truss, UK prime minister, is preparing to rip up the government’s “mini” Budget in a desperate attempt to rebuild market confidence and save her embryonic premiership. Kwasi Kwarteng left Washington, where he was attending IMF meetings, a day earlier than planned, he confirmed late on Thursday night, dashing to the airport to catch the
Maryland Heights, Missouri, forwarded the funds needed to cover a delinquent debt service payment for revenue bonds issued for its community ice arena, but not before triggering a two-notch downgrade that sent its certificates of participation to junk. The Centene Community Ice Center, which serves as the practice facility for the National Hockey League’s
Bankruptcy Judge Laura Taylor Swain approved the Plan of Adjustment for the Puerto Rico Highway and Transportation Authority, reducing its debts by 80% and saving it more than $3 billion in debt service payments. Swain approved the HTA debt plan on Tuesday in the U.S. District Court for the District of Puerto Rico. Swain overruled any prior
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Huobi Token (HT) has been up 12% in the last 24 hours and is one of the few cryptocurrencies bucking the general downtrend. Trading at over $7, HT’s price is up over 80% since the beginning of this week, which is also its best weekly performance since February 2021. HT’s intraday gains coincide primarily with
Few things are more quintessentially, uniquely American than Minor League Baseball. Played out in small and not-so-small cities from Portland, Me. to San Bernardino by teams both affiliated and unaffiliated with Major League Baseball, the summer game on the minor league level proves an affordable, entertaining night out. As a bonus, it’s a coalescing force
Ripple CEO Brad Garlinghouse says he thinks “we’ll have an answer in the first half of next year” in the U.S. Securities and Exchange Commission (SEC) lawsuit over xrp. Maintaining that xrp is not a security, the executive stressed that the case “is about the whole industry” and “Everyone acknowledges how important this is.” Ripple’s
In this article DCT DWAC Follow your favorite stocksCREATE FREE ACCOUNT The social media app will be developed by Trump Media and Technology Group (TMTG). Rafael Henrique | LightRocket | Getty Images Check out the companies making headlines in after-hours trading. Digital World — The company aiming to take public Truth Social, Donald Trump’s media