Showing 116 of 116 articles
DOGE and Federal Funding Cuts
How federal spending reductions affect state and local budgets, Medicaid funding, and municipal bond credit quality.
OBBBA and the Municipal Bond Market
How SALT cap expansion and preserved municipal bond tax exemption shape 2026 issuance and relative value.
Municipal Bond Market Outlook 2026
Market projections, yield environment, sector performance, credit migration, and supply-demand dynamics for 2026.
How Municipal Bonds Work: A Guide to GO and Revenue Bonds
Introductory guide to municipal bond structures, tax exemption, credit ratings, and key market participants.
Municipal Bond Insurance and Credit Enhancement
How bond insurance works, major insurers (Assured Guaranty, BAM), and when insurance adds value.
Tax Increment Financing (TIF)
How TIF works, bond structures, credit considerations, use cases, and policy controversies.
Congestion Pricing: Revenue Generation and Transit Funding
NYC congestion pricing launch, revenue performance, MTA bond plans, and expansion to other cities.
Municipal Credit Ratings
Rating agency methodologies, key metrics (debt burden, reserves, economic base), and upgrade/downgrade drivers.
Essential Service Revenue Bonds
Why essential service bonds are considered defensive, rate-setting, coverage ratios, and comparison to GOs.
Municipal Utility Rate-Setting
Cost-of-service methodology, rate structures (flat, tiered, conservation), affordability metrics, and rate covenant compliance.
Municipal Water Revenue Bond Credit Analysis
Understanding DSCR, affordability constraints, and PFAS compliance impact on water utility credit quality
Transit Fare Revenue Recovery
Analyzing structural ridership losses, labor cost escalation, and operating deficit pressures through 2026
Toll Road Traffic and Revenue Trends
Tracking managed lanes growth, rate escalation mechanisms, and P3 refinancing activity
Municipal Pension Funding and Its Impact on Bond Credit
Examining GASB 67/68 reporting, assumption changes, and credit rating implications
Port Infrastructure Climate Resilience
Assessing sea level rise costs, storm hardening investments, and federal funding mechanisms
Water and Sewer Revenue Bonds: A Comprehensive Guide
Understanding the structures, covenants, and credit fundamentals of water and sewer revenue bonds issued by municipal utilities across the United States.
Water and Sewer Rate Covenant Compliance and Enforcement
How utilities maintain rate covenants, what happens when they breach them, and the credit implications of covenant violations and remediation.
Water and Sewer Capital Improvement Programs
Understanding capital planning, funding mechanisms, and the federal and state programs financing water infrastructure renewal across the United States.
Water and Sewer Credit Analysis
Understanding how S&P, Moody's, and Fitch rate water and sewer utilities using published criteria, financial metrics, and qualitative assessment.
Water and Sewer Regulatory Compliance
Understanding federal and state regulations, EPA enforcement, consent decrees, and the credit and financial implications of regulatory compliance for water and sewer utilities.
NYC Municipal Water Finance Authority
Comprehensive financial analysis of the New York City water and sewer system, the largest municipal water utility in the United States.
San Francisco Public Utilities Commission (SFPUC)
Comprehensive financial analysis of the three-enterprise San Francisco Public Utilities Commission, integrating water, wastewater, and hydroelectric power systems.
DC Water and Sewer Authority
Comprehensive financial analysis of the District of Columbia Water and Sewer Authority, a pioneer in innovative environmental financing and green bonds.
Los Angeles Department of Water and Power (LADWP)
Comprehensive financial analysis of the water system component of LADWP, the second-largest municipal utility in the United States.
Water and Sewer Utility Financial Reporting
Comprehensive guide to GASB accounting and financial reporting requirements specific to water and sewer utilities.
Municipal General Obligation Bonds: A Comprehensive Guide
Understanding GO bonds, unlimited tax pledges, voter authorization, and the mechanics of municipal credit.
Municipal Credit Analysis
How S&P, Moody's, and Fitch evaluate the creditworthiness of municipal governments using systematic frameworks.
The Municipal Pension Crisis
Understanding GASB 68 disclosure, pension funded ratios, actuarial assumptions, and how unfunded pension liabilities drive municipal credit downgrades.
Property Tax Revenue: The Foundation of Municipal Credit
How property taxes fund municipal services, the mechanics of assessment, levy limits, and credit implications of tax concentration and exemptions.
Municipal Fiscal Stress
Identifying municipalities in crisis through fund balance depletion, cash flow borrowing, and structural deficits. Understanding state oversight programs and Chapter 9 bankruptcy.
Special Tax Districts and Assessment Bonds
A comprehensive guide to Mello-Roos, community facilities districts, and special assessment mechanisms in municipal finance.
How to Read a Municipal ACFR
Essential framework for interpreting financial statements, GASB reporting, and critical credit metrics from annual comprehensive financial reports.
Municipal Debt Structures
Comprehensive guide to non-general obligation municipal debt: appropriation risk, credit evaluation, and investor considerations.
Municipal Climate Resilience and Green Bonds
Framework for understanding green and sustainability bonds, climate risk disclosure, and ESG integration in municipal credit analysis.
State-Local Fiscal Federalism
Framework for understanding state policy constraints, revenue sharing, and state aid dependence as drivers of municipal credit quality.
Bay Area Transit Finance — The SB 63 Ballot Measure and
Can a $1 Billion Ballot Measure Save the Nation's Most Fragmented Transit Network?
CTA Chicago — Transit Finance Profile
The NITA Act, SB 2111, and the Financial Transformation of America's Third-Largest Transit System
DART Dallas — Transit Finance Profile
Suburban Withdrawal, the Silver Line, and the Fight for North Texas Transit
Northwest Seaport Alliance — Financial Profile
Container Gateway Operations: 50/50 Partnership, Joint Venture Finance and Strategic Capital Program
PANYNJ — Port and Marine Terminal Finance
Port Authority of New York and New Jersey: Marine Terminal Operations, Revenue Bonds, and Capital Investment
Port of Long Beach — Financial Profile
America's Second-Busiest Container Port: Terminal Operations, Green Port Strategy, and Revenue Bond Analysis
Port of Los Angeles — Financial Profile
America's Busiest Container Port: Revenue Optimization, Infrastructure Investment, and Competitive Positioning
Port of Pascagoula Financial Profile
Defense and Energy Industrial Gateway — 32M+ tons, $18.25B economic output, HII Ingalls (11K workers), Chevron (369K bbl/day)
Port of Portland — Marine Terminal Finance
Oregon's Multi-Modal Port Authority: Marine Operations, Aviation Revenue, and Industrial Property Management
Port of South Louisiana
An analysis of revenue bonds, credit structure, and financial performance.
Transit Fiscal Cliff Comparison 2026
How America's Transit Systems Are Confronting Post-Pandemic Funding Crises — and Who's Winning
Port and Harbor Credit Analysis
Rating Methodologies, Financial Metrics, and Credit Drivers for U.S. Seaport Revenue Bonds
Port Pension and OPEB Liabilities
Understanding GASB 68/75, Unfunded Liabilities, and Rating Agency Treatment
Toll Road Revenue Bonds and Finance
A Comprehensive Guide to U.S. Toll Road Credit Analysis
The Transit Fiscal Cliff Crisis: 2025–2027
Federal Relief Expiration, Structural Deficits, and Financial Stress in U.S. Transit
Toll Road Revenue Bonds and Infrastructure Finance
A Comprehensive Guide to U.S. Toll Road Debt Financing
Port Revenue Bonds and Finance
Revenue Bond Structures, Capital Programs, and Credit Analysis for U.S. Seaports
Cruise Port Finance and Revenue Analysis
Passenger Fees, Terminal Investment, and Credit Implications for America's Cruise Gateways
Container Port Economics and Trade Finance
TEU Throughput, Revenue Models, Supply Chain Dynamics, and Capital Investment at America's Busiest Ports
Port Environmental Mandates and Green Bond Finance
Zero-Emission Requirements, Shore Power Investment, and Sustainable Infrastructure at U.S. Seaports
U.S. Port Governance and Organizational Models
How America's Ports Are Structured: Authorities, Departments, Districts, and Joint Ventures
Tariff Policy Trade Wars Port Revenue
An analysis of revenue bonds, credit structure, and financial performance.
Port Capital Programs and Infrastructure Investment
Channel Deepening, Terminal Modernization, and Mega-Ship Readiness: Financing America's Port Expansion
Port Intermodal Connectivity and Rail Networks
Class I Rail Access, On-Dock Rail, and Hinterland Reach: How Intermodal Infrastructure Drives Port Competitiveness
Port Revenue Bonds and Finance
Revenue Bond Structures, Capital Programs, and Credit Analysis for U.S. Seaports
Port of Los Angeles — Financial Profile
Financial Profile, Bond Structure, and Capital Program for the Port of Los Angeles
Port of Long Beach — Financial Profile
Financial Profile, Bond Structure, and Capital Program for the Port of Long Beach
Georgia Ports Authority Finance
An analysis of revenue bonds, credit structure, and financial performance.
PANYNJ Marine Terminals — Financial Profile
Financial Profile, Consolidated Bond Structure, and Marine Terminal Operations for PANYNJ
Portmiami Finance
An analysis of revenue bonds, credit structure, and financial performance.
MTA New York Transit Finance
Financing the Nation's Largest and Most Complex Transit System
MBTA Boston — Transit Finance Profile
Financial Profile, Debt Structure, and Capital Program of the Massachusetts Bay Transportation Authority
Virginia Port Authority Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port Houston Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port Of Oakland Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port of Seattle
An analysis of revenue bonds, credit structure, and financial performance.
Traffic & Revenue Studies in Toll Road Finance
Methodology, Optimism Bias, and the Art of Demand Forecasting
Electronic Toll Collection
How ETC Systems Work, Why Interoperability Remains Elusive, and the $2.24 Billion Leakage Problem
Managed Lanes, Express Lanes, and Dynamic Pricing
The New Economics of Priced Highway Capacity
Toll Road P3 Concessions
Structures, Failures, and Best Practices in Toll Road Public-Private Partnerships
Major U.S. Toll Road Issuers
From the New Jersey Turnpike to the North Texas Tollway: A Financial Guide to America's Largest Toll Road Authorities
TIFIA and Federal Financing for Toll Roads
How Federal Credit Programs Power Toll Road Infrastructure Investment
Congestion Pricing and the Future of Tolling Policy
From New York City's Landmark Program to the VMT Fee Debate
Toll Road Rate Covenants and Coverage Analysis
Understanding the Revenue Pledge, Fund Waterfall, and Debt Service Coverage Mechanics of Toll Road Bonds
South Carolina Ports Authority Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port Tampa Bay Financial Profile
Florida's largest port by tonnage — $97.8M record revenue, 28% container growth, A+ Stable rating, and Vision 2030 master plan
Port of Baltimore: Finance, Operations, and the Bridge
An analysis of revenue bonds, credit structure, and financial performance.
Jaxport Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port Labor Relations and Municipal Bond Credit
ILWU, ILA, and the Credit Impact of Labor Disruptions at U.S. Seaports
Port Financial Benchmarking and KPI Analysis
Key Performance Metrics for U.S. Seaport Revenue Bond Credit Analysis
Port of Tacoma Finance
Credit Analysis & Financial Overview
San Diego Unified Port District
An analysis of revenue bonds, credit structure, and financial performance.
Port of Mobile Financial Profile
Deepest U.S. Gulf container port — 45-minute dwell time, Phase IV doubling to 1M+ TEU, Fitch BBB+ Positive outlook
Port of New Orleans: Financial Analysis & Competitive
An analysis of revenue bonds, credit structure, and financial performance.
Philaport Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port of Portland Finance
Combined Aviation-Marine Credit Analysis
Port of San Francisco Financial Profile
Real estate-centric urban waterfront authority — $106M revenue, 9.3x DSCR, Fitch A rating, and $5B+ Waterfront Resilience Program
Port Canaveral Financial Profile
World's #1 cruise port — 8.6M passengers, $218M revenue, DSCR >4.0x, $912M self-funded Port Advantage Plan, and space economy adjacency
Port of Corpus Christi Financial Profile
America's #1 crude oil export port — 203.4M tons, 60%+ U.S. crude market share, S&P AA-, and completed $681.6M channel deepening
Port Everglades Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port P3 and Concession Finance
Terminal Concessions, Long-Term Leases, and Credit Implications
Bulk Energy Port Finance
An analysis of revenue bonds, credit structure, and financial performance.
Federal Port Infrastructure Grants
PIDP, INFRA, RAISE, EPA Clean Ports, and TIFIA
Port Tariff Structures
Wharfage, Dockage, Pilotage, and Port Revenue Mechanics
Harbor Maintenance Trust Fund Dredging
Financial analysis, regulatory framework, and industry overview.
Roro Vehicle Port Finance
An analysis of revenue bonds, credit structure, and financial performance.
Port Financial Reporting and GASB Standards
ACFR Structure, Enterprise Fund Accounting, and Bond Covenant Analysis
Port Economic Impact Methodology
How to Interpret Port Impact Studies
Port Privatization and International Terminal Operators
Global TOCs, CFIUS Review, and Credit Implications
Jones Act Domestic Shipping Ports
An analysis of revenue bonds, credit structure, and financial performance.
Port Security and Resilience Finance
MTSA, Key Bridge, Cybersecurity, and Climate Risk
Port Ancillary and Non-Maritime Revenue
Real Estate, Parking, Utilities, and Commercial Leases
Us Port Sector Overview
An analysis of revenue bonds, credit structure, and financial performance.
Port Bond Feasibility Studies
Structure, Revenue Projections, and Investor Analysis
Port Rate Regulation and Ratemaking
How U.S. Ports Set Rates, What Governs Them, and What It Means for Credit
Transit Revenue Bonds and Funding
A Comprehensive Guide to Public Transit Debt Financing
Transit Sales Tax Revenue Bonds
The Dominant Security Structure in U.S. Transit Finance
National Transit Database (NTD) Guide
Understanding America's Transit Performance Data System
Transit Ridership and Post-COVID Recovery
Trends, Mode-Specific Analysis, and Financial Implications
Transit P3 and Alternative Delivery
Public-Private Partnerships in Transit Capital Programs
VTA — Santa Clara Valley Transportation Authority
Financial Profile and Transit System Analysis