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The Bond Buyer
The Bond Buyer @TheBondBuyer ·
The center is the practice facility for the National Hockey League's St. Louis Blues and the home rink for Lindenwood University, which in 2022 reclassified its hockey program to NCAA Division I status. #muniland #default #missouri #marylandheights bit.ly/4uRD9JL
St. Louis Blues prospect camp at the Centene Community Ice Center
Missouri ice rink facility defaults on revenue bonds

St. Louis Community Ice Center drew on a debt service reserve to make payments on its unrated Series 2018A revenue bonds and defaulted on its 2018B bonds.

From bondbuyer.com
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Cate Long
Cate Long @cate_long ·
If you try to dig into the Puerto Rico OBoard's Prepa budget (4th amended) vs the Prepa fiscal plan it makes absolutely no sense (bear in mind audited financials are 4 years behind so there is no certified baseline for analysis) #muniland. The OBoard's FY26 budget for GridCo ie $PWR = $919 million total ~~ $139 million for Luma's operator fee ~~ $780 million for Gridco operating & maintainance fee (left below - March 16, 2026 4th amended Budget pg 8) drive.google.com/file/d/1DGMTvr… Meanwhile the 2025 fiscal plan for FY 2026 (pg 113) has Gridco expenses at $1.517 billion or a difference of $598 million (right below). This is a difference of $398 for every Prepa customer drive.google.com/file/d/1WksRht… What is going on with these numbers? Honestly the OBoard's executive director is paid $625,000 a year (150% of President Trump's salary) and the numbers are totally screwed up. PJT is being paid $1 million a month to help the Prepa mediation team. Hopefully they can figure this mess out.
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Cate Long
Cate Long @cate_long ·
One of the bigger trends in #muniland. I'd be curious to see the rating agencies address this.
The Epoch Times The Epoch Times @EpochTimes ·
Many large metro areas are facing population stagnation or even decline. Not only are they losing population to smaller cities, but the steady stream of immigrants that had kept them growing has also greatly diminished, according to new Census Bureau data. Continue reading in
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Cate Long
Cate Long @cate_long ·
The project sponsor of undersea electrical cable from the Dominican Republic to Puerto Rico & Prepa bondholders petition the Puerto Rico Energy Bureau to intervene in the development of the new Integrated Resource Management plan #muniland sanjuandailystar.com/post/prepa-bon…
PREPA bondholders, project developer seek to intervene in IRP development process.

By THE STAR STAFFPuerto Rico Electric Power Authority (PREPA) bondholders and the local firm promoting a subsea power transmission line between the U.S. island territory and the Dominican Republic...

From sanjuandailystar.com
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Cate Long
Cate Long @cate_long ·
Puerto Rico's energy czar meets w/ executives from power company AES. AES has been a power generator for Prepa for decades & is perfectly positioned to take over from Luma/Quanta #muniland. AES operates a dedicated Utilities Business Unit that serves 2.7 million customers annually across Indiana, Ohio and El Salvador. AES actually has experience running a utility unlike Quanta $PWR.
Zar de Energía Zar de Energía @ZardeEnergia ·
ENTÉRATE | El director ejecutivo de la Autoridad para las @AAPPPuertoRico y @ZardeEnergia, Ing. Josué A. Colón Ortiz, lideró la reunión con los directivos de AES, en la que participó @AEEONLINE, @AAFAFPR y @FOMBPR, como parte de las conversaciones que se desarrollan para el cumplimiento de la Ley 1-2025 con el objetivo de fortalecer la infraestructura energética, como parte del compromiso de la gobernadora @Jenniffer González Colón. @AESpuertorico @lafortalezadepr @gobiernodepr
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The Bond Buyer
The Bond Buyer @TheBondBuyer ·
Many of the worst-performing states lack an overarching vision for transportation, said Baruch Feigenbaum, senior managing director of transportation policy at the Reason Foundation and lead author of the report. #muniland #transportation #infrastructure bit.ly/4c3XPGS
Traffic on U.S. Highway 1 in San Francisco, with city skyline in background
Many state highway programs don't make the Reason Foundation grade

Virginia and Georgia topped the list of high performers and Alaska and California received the lowest marks in the Reason Foundation's analysis.

From bondbuyer.com
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The Bond Buyer
The Bond Buyer @TheBondBuyer ·
"After years of record highs, states' rainy day fund capacity—the number of days that reserve balances could cover state operations—fell in fiscal year 2025, the first decline since the 2007-09 Great Recession," write Page Forrest and Justin Theal of the Pew Foundation. #muniland #budgets #reserves bit.ly/4uI6eqO
Justin Theal, senior officer at the Pew Foundation
State reserves pressured

Overall rainy-day fund capacity for U.S. states fell in fiscal year 2025 for the first time since the World Financial Crisis as more states look at tapping reserves.

From bondbuyer.com
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The Bond Buyer
The Bond Buyer @TheBondBuyer ·
"This is a major win for Minnesota and the Twin Ports," Minnesota Gov. Tim Walz said in a statement upon the release of the funding. "Replacing the Blatnik Bridge will improve safety, strengthen our economy, and support thousands of good-paying jobs.” #muniland #wisconsin #minnesota #infrastructure #blatnikbridge bit.ly/4bIDeqb
The Blatnik Bridge
Blatnik Bridge funding released amid finger-pointing

The U.S. Department of Transportation will release $1.05 billion that was set aside by the Biden administration for the long-awaited Blatnik Bridge project.

From bondbuyer.com
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The Bond Buyer
The Bond Buyer @TheBondBuyer ·
"Rates, not fundamentals, continue to drive benchmark yields higher, leaving munis on track for their fourth-worst monthly performance in 15 years," said James Pruskowski, managing director at Hennion & Walsh. #muniland #primarybondmarket bit.ly/4lUnh54
visualization
Munis mixed after Tuesday's selloff, USTs see gains

"Rates, not fundamentals, continue to drive benchmark yields higher, leaving munis on track for their fourth-worst monthly performance in 15 years," said James Pruskowski, managing director at...

From bondbuyer.com
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Cate Long
Cate Long @cate_long ·
National ($MBI) joins the Prepa trustee, Prepa Ad Hoc Group, GoldenTree & Assured in appealing the Prepa administrative expense opinion to the First Circuit. It's very likely the appeal will be decided in less time than the district court opinion took (almost 1 year) #muniland
Cate Long Cate Long @cate_long ·
The Prepa trustee (@usbank). Prepa Ad Hoc Group, GoldenTree, & Assured appeal the Title 3 court's opinion of their administrative expense claim #muniland
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BondLink
BondLink @BondLink ·
New York City Municipal Water Finance Authority is pricing $200,000,000 of Water and Sewer System Second General Resolution Revenue Bonds, Adjustable Rate Fiscal 2026 Series EE on 4/6. Find an OS and more on their IR website – hubs.la/Q048fGkH0 #muniland #bonds
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