The Kresge Foundation, an organization that invests more than $160 million annually to foster economic and social change, has chosen investment banker Suzanne Shank and professor Michael Barr to serve on its Board of Trustees, the foundation said Monday. Shank is CEO of Siebert Williams Shank & Co. and president and

The U.S. Virgin Islands' Matching Fund Securitization Corp. plans to refinance $943.6 million of outstanding matching fund bonds as soon as this week. The financially struggling territory’s Senate gave final approval for the deal Thursday night in an eight to six vote.

A $3.3 billion budget proposal from Nassau County Executive Laura Curran hinges on a debt restructuring plan from which she previously retreated after Republican opposition earlier in August. The Democratic county executive’s 2021 spending plan announced last week is linked to a proposed refinancing of outstanding bonds through the triple-A-rated Nassau

St. Louis-based Mercy Health system took two rating hits over its rising debt levels and strained balance sheet metrics as it readies a $354 million borrowing and looks ahead to a post-COVID-19 recovery after taking actions to tighten its belt. Moody’s Investors Service lowered the rating one notch to A1 from

Threats to Illinois’ investment grade rating are intensifying as prospects for a new round of federal relief in the near future dims and structural budget woes mount, S&P Global warned in a bulletin published Monday. “The odds of Illinois balancing its budget without additional borrowing or a sizable increase in the

Municipals were little changed Monday ahead of the week’s nearly $13 billion new-issue slate. Muni yields remained steady along all of the AAA GO scales. “This week's total issuance is estimated at roughly $12.56 billion comprised of nearly $9 billion in tax-exempts and another $3.6 billion in taxable product. The year-to-date

President Trump announced the release of

The Harris County-Houston Sports Authority is restructuring its debt to provide nearly $74 million in cash-flow relief over the next two years. With its four professional sports stadiums partially idled by the COVID-19 pandemic, the authority is also suffering a loss of revenue from taxes on hotel rooms and rental cars.

It has been almost a month since the Federal Reserve's new inflation framework was announced, as the new strategy involves average inflation targeting, which makes it more likely the central bank will allow inflation to run higher than the standard 2% target, before hiking interest rates. The Fed has been chasing

The Pennsylvania Turnpike Commission expects to come to market this week with a $242 million sale of Series 2020B senior lien turnpike revenue bonds. Citi is lead manager.