What are Private Activity Bonds? Private Activity Bonds (“PABs”) are a specific type of municipal bond (“muni bonds”) where the ultimate borrower is often a nonprofit private entity. PABs allow these nonprofit organizations to issue tax-exempt bonds through conduit issuing authorities, unlike state and local governments that issue tax-exempt bonds
Updated: May 15 Credit Rating Agency Outlooks The major credit rating agencies shared their 2025 outlook reports for higher education in December of 2024. Moody’s Investor Service assigned a “Stable” outlook for the sector, highlighting a steady financial environment for the sector due, in part, to waning pressure from inflation
Updated: May 15 Understanding the Series 50 and Series 54 Examinations Borrowers will often see mention of the Series 50 and Series 54 examinations. These qualifying exams are important for ensuring borrowers are getting top-tier advice from independent, qualified municipal advisors. To become a “Municipal Advisor Representative” per Rule G-3 of
What Are Green Bonds? Understanding ESG-Labeled Bonds Green labeled bonds belong to a family of designations affixed to bonds issued under the “ESG” labels (“Environmental”, “Social”, and “Governance” bonds). There exist readily available standards to which borrowers can use for labelling their green bonds, such as the International Capital Market
Updated: May 15 Higher education has experienced a few years of tumult and recovery since the COVID pandemic. While some institutions are catching their breath, others are struggling to survive. Given the gathering clouds around enrollment trends from this year and well into the future, few can afford themselves the luxury
Whether applying our own expertise to tricky problems or assisting clients who are either temporarily or perpetually short-staffed, we provide a wide array of tailored services to a range of institutions. Beyond the aforementioned “standard services” you might expect from a municipal advisor, we are often deeply integrated into our
In the past several weeks the market has seen large downward movements in both taxable and tax-exempt interest rates. Nevertheless, the treasury yield curve continues to remain inverted – particularly on the front end – and it continues to be a good time for issuers to benefit from reinvesting bond
With the tremendous buzz around the political, social, and economic factors at play around ESG (“Environmental, Social, and Governance”) bonds and their evolving status, it can be daunting for muni bond issuers that may want to enter this niche of the capital markets. The municipal bond market is, in fact,
Colleges and universities across the country are facing unprecedented pressures. Inflation and rising costs are the most recent factors that drive finance and business officers to pull their hair. Pressure from the recent job market has lured away some would-be students, as have online alternatives. Even before this year’s drop
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Blue Rose Capital Advisors is an independent financial advisory firm that does not engage in underwriting activities. We are registered with the Securities and Exchange Commission (SEC) and Municipal Securities Rulemaking Board (MSRB) as a Municipal Advisor. Because we have not engaged in underwriting activities in our history, we generally qualify as an Independent Registered Municipal Advisor (IRMA).
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