No municipal borrower — not even cash-strapped Puerto Rico — has had to offer ... it’s a distressed situation,” said Burt Mulford, a manager of tax-exempt funds in St. Petersburg, Florida, at Eagle Asset Management, which oversees $2.5 billion.
“It’s a borderline credit, it was just recently downgraded and the trends don’t look good at this point,” said Burt Mulford, a portfolio manager at St. Petersburg, Florida-based Eagle Asset Management Inc., which oversees about $2 billion of.
“The trend is down,” said Burt Mulford of Eagle Asset Management. “But they have such excess coverage in their ability to cover debt service that they’re in a good position to cover declining revenues.” Given those numbers, Standard & Poor was.
Municipal-bond investors including Eagle Asset Management and Wasmer Schroeder & Co. have been mostly avoiding debt from Louisiana, given the swelling budget gaps and its dependence on oil revenue. “We have not been a big buyer of ... “If LSU came with.
has dropped off as local government officials choose to emphasize fiscally responsible policies, particularly as they try to appeal to voters ahead of elections this fall, according to Burt Mulford , municipal bond portfolio manager at Eagle Asset.
Some muni investors are reluctant to jump back in. Burt Mulford of Eagle Asset Management said June didn't see as much reinvestment as usual. "The challenge for the retail investor ... is finding the bond to replace the bond that just got called," he said.
Such closings are likely to scare some traders. Burt Mulford, an Eagle Asset Management analyst who manages $2.4 billion of municipal bonds in tax-exempt funds for the St. Petersburg, Fla.-based firm, was asked by the Salt Lake Tribute about Mississippi.
NEW YORK (CNNMoney) -- As investors fear cash-strapped states and cities across the country are on the brink of default and local governments slow debt issuance, the municipal bond market is heading for its worst quarter ... Burt Mulford of Eagle Asset.
“The calendar has gotten so immense that it has put trepidation into the buyers and the underwriters,” said Burt Mulford, a municipal portfolio manager at Eagle Asset Management in St. Petersburg , Fla. For evidence of that trepidation, Graff points.
said Burt Mulford at Eagle Asset Management. “There has been a trend of decline in this sector in terms of state gaming revenue,” said Mulford, a manager of tax-exempt funds for the St. Petersburg, Florida-based firm, which holds $2.4 billion of.