Puerto Rico Electric Power Authority bond parties argued in appeals court briefs that their trust agreement clearly gives them a lien on incoming revenues and supports their claim for the $8.5 billion pre-bankruptcy principal rather than the $2.4 billion set by a lower court judge. The parties argued about the language needed to establish a

Municipals were mostly steady to a touch softer in secondary trading while newly upgraded gilt-edged Ohio upsized its general obligation refunding deal and repriced to lower yields. U.S. Treasuries improved on the day following cooler inflation data that many participants said would not move the needle on the Federal Reserve’s rates decision Wednesday. Triple-A yields

Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription:Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Keeley Webster (00:04):Hello, I am Keeley Webster. Welcome to another Bond Buyer podcast. The Governors of

Bondholders and other parties involved in the Puerto Rico Electric Power Authority bankruptcy returned to court Friday in an effort to move the needle on their opposing cases seeking better repayment terms. Bond parties defended their adversary complaint against Puerto Rico’s central government’s actions regarding PREPA since the central government emerged from bankruptcy in March

Ohio Treasurer Robert Sprague, Illinois Treasurer Michael Frerichs, Pennsylvania Treasurer Stacy Garrity, Oklahoma Treasurer Todd Russ and Palm Beach County Clerk and Comptroller Joseph Abruzzo have joined Israel Bonds’ new Government, Industry and Financial Services Leadership Board. “If Hamas stopped fighting today, there would be no more war. If Israel stops fighting, there will be

Alan Appelbaum, former managing director and head of Aegis Capital Corp.’s municipal bond desk, has agreed to settle Securities and Exchange Commission charges that he disregarded his obligations as a broker-dealer and violated antifraud provisions in his recommendation of certain variable interest rate structured products to seven investors. Without admitting or denying the findings, Applebaum,

California Gov. Gavin Newsom will need to close a $68 billion shortfall as he wraps up work on the proposed budget for fiscal 2024 that he will present to lawmakers in January. The upshot is that the flooding and massive storms that hit California in early 2023 and pushed income tax filings in the state

Moody’s Investors Service raised its outlook on U.S. nonprofit higher education sector to stable from negative on Thursday, citing expected narrowing gaps between expense and revenue growth. Also on Thursday, S&P Global Ratings affirmed its “bifurcated” outlook for the sector, which includes a negative outlook for less selective, more regional institutions without financial flexibility and

Municipals were steady Friday, ignoring weakness in the U.S. Treasury market after the jobs report came in hotter-than-expected. Equities ended up. The November payroll report “was stronger than Wall Street was expecting, and we are already seeing significant upward pressure on Treasury yields,” said Scott Anderson, chief U.S. economist and managing director at BMO Economics.

Ohio for the first time can boast of a trifecta of triple-A ratings after S&P Global Ratings on Friday gave top marks to the state’s issuer and general obligation ratings. “The upgrades reflect our view of Ohio’s demonstrated commitment to active budget management and building and maintaining reserves through economic cycles,” said S&P analyst Rob

The U.S. Treasury Department would be authorized to float up to $1 billion of bonds exempt from state and local taxes to fund climate resiliency projects under a measure introduced Wednesday by Sen. Dick Durbin, D-Ill. The bill would allow Treasury to issue “climate bonds” for purchase by “any American” to finance projects undertaken by