The Pennsylvania 2015-2016 Budget Impasse may be (technically) over, but it just claimed another victim. From The Bond Buyer:
Standard & Poor’s has discontinued its underlying rating for credit enhancement programs on rated Pennsylvania school districts.
S&P announced the policy change Tuesday afternoon as an additional step to its December withdrawal of ratings based
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The Municipal Securities Rulemaking Board (MSRB) recently published the agenda for the January 27-28, 2016 meeting of its Board of Directors. Among the items noted for discussion is the following:
Bank Loans
The Board will discuss direct purchases of municipal securities by financial institutions and bank loans to municipal entities to consider whether the MSRB
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The MSRB recently published a revised version of proposed Rule G-42, concerning the duties owed by municipal advisors to their public entity clients. The MSRB’s changes to the Rule incorporate many of the comments previously received from the public, the effect of which would be to substantially relax the duties owed by municipal advisors…
The Securities and Exchange Commission (“SEC”) recently announced that it has charged the City of Harrisburg with violations of various anti-fraud provisions of federal securities laws in connection with the resource recovery facility and other outstanding municipal bonds issued or guaranteed by the City. The City has accepted a settlement of the charges in which…
