Rich Saskal

Citigroup Global Markets Inc. will exit the municipal industry by the end of the first quarter of 2024, leaving a market it once dominated in both underwriting and market-making business.

The experts, hired by bond parties, say the Oversight Board's economic and expense assumptions underlying its plan of adjustment are too pessimistic.

An off year from municipal bond issuers in the Northeast in 2023 pulled the national volume numbers into negative territory.

A state-by-state review of 2023 issuance in the Northeast.

The bonds are rated Aa2 by Moody's Investors Service, AA by S&P Global Ratings and Fitch Ratings and AA-plus by Kroll Bond Rating Agency. All four rating agencies have a stable outlook on the credit.

With a recent court ruling and higher interest rates in their favor, more issuers are likely call back their outstanding BABs using the extraordinary redemption provision.

With economic uncertainty ahead and the Federal Reserve potentially shifting to interest-rate cuts, analysts should take a closer look at individual issuers' financial disclosures.

The state's largest healthcare district by land mass is at risk of breaching financial covenants, according to Moody's Investors Service.

Based in New York City, Ted Hynes has almost 40 years of experience in the fixed-income markets, the last 15 at Raymond James.

CreditSights said states with the largest payments are Texas at $2 billion, Pennsylvania at $1.5 billion, South Carolina at $1.3 billion and California at $1.2 billion