Fitch Ratings downgraded Guilford County, North Carolina’s issuer default rating and general obligation debt to AA-plus from AAA on Friday afternoon, reflecting a material increase in its debt load and “midrange” demographic and economic developments. Simultaneously, Fitch downgraded the county’s lease obligations to AA from AA-plus. The outlook is stable. The county had $673 million

Municipals were steady Monday as U.S. Treasuries were slightly weaker and equities ended mixed. The two-year muni-to-Treasury ratio Monday was at 62%, the three-year at 65%, the five-year at 66%, the 10-year at 71% and the 30-year at 87%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read. ICE Data Services had the two-year

Federal Reserve Chair Jerome Powell’s speech in Jackson Hole Friday removed any uncertainty of a rate cut at the Fed’s September meeting, pushing U.S. Treasury yields lower on the short end, with municipals following suit, while stocks rallied on the news. “Powell has rung the bell for the start of the cutting cycle,” said Seema

Major infrastructure improvements will aid the U.S. Virgin Islands Water and Power Authority’s finances in the coming months and years, officials said. WAPA is under extreme financial pressure, according to board members, and its electric system revenue bonds were rated CC, before Fitch Ratings withdrew the rating in December. The Federal Emergency Management Agency approved

The end is near for a 52-year public-private partnership that built a managed lanes toll road project in the Houston area, with the Texas Department of Transportation announcing Friday the state intends to take over the project’s operation in October. The move came after financing for the P3 termination was cleared Thursday by the Texas

Nevada would get its first toll road under a public-private partnership floated by the city of Sparks. State lawmakers would need to approve the move, as Nevada law currently bans fees on roads that are part of P3s. The city manager of Sparks, located just east of Reno, has proposed a 13-mile toll road that

The Senate Committee on Banking Housing and Urban Affairs is facing major changes in its makeup depending on the outcome of the election, especially if Chairman Sherrod Brown, D – Ohio,loses his race.    “The committee is filled with senior members, so I assume the likes of Sens. Jack Reed and Elizabeth Warren will push for

Mirroring national trends, most states in the Far West enjoyed a double-digit jump in municipal bond issuance in the first half of the year as market conditions for borrowers improved. Issuance across the nine-state region totaled $49.7 billion, up 28.3% from $38.7 billion over the same period last year, according to LSEG Data & Analytics.