Rising Chicago deficit forecast raises eyebrows in muni market
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Chicago released a budget forecast last week projecting that its corporate fund deficit will grow in upcoming years, jumping to $982.4 million in 2025 from $222.9 million at the end of 2024. The new forecast may give investors, and bond raters, pause.
From politics to disclosure to funding, the changing climate challenges muni issuers. Learn more in our Climate Spotlight 2024 package.
Kenneth Lind, whose 45-year career has seen him working on some of this country's largest projects and developments, will be inducted this month into The Bond Buyer’s 2024 Muni Hall of Fame class. The longtime point man for the Metropolitan Transit Authority, has both the storied reputation and local impact that most public servants can only dream of.
Register now for The Bond Buyer's Infrastructure event — including the induction of our newest Hall of Fame class — in September in Philadelphia.
One-third of bridges in the U.S. need to be repaired or replaced. But federal infrastructure dollars are helping states chip away at that number, according to the American Road & Transportation Builders Association's latest annual bridge report.
Watch what the municipal bond industry’s innovators and influencers are saying in our Leaders series of video interviews. Check out our lineup of future live interviews and archived conversations.
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Louisiana has encountered a problem with its first public-private partnership, with the tolling and full opening of a new Belle Chasse bridge delayed for at least seven months. The bridge was to be fully opened in mid-April, but plans are delayed by subsidence of the newly constructed north and south approaches to the new bridge. The state has penalized the developer, Plenary Americas, $10,000 a day in liquidated damages since the mid-April deadline.
Advance rates are available for The Bond Buyer’s California Public Finance conference, coming to San Francisco in October.
Municipals were slightly firmer Thursday amid another busy day in the primary market, which saw a $1.1 billion deal from the North Texas Tollway Authority price and $850 million of general obligation bonds from Massachusetts sold in the competitive market.
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