Brightline Trains Florida, the Fortress Investment Group-backed passenger railroad, skipped its second interest payment on $1.2 billion of subordinate municipal bonds.

Nicolas Petrovic is staking his reputation on turning around Brightline Holdings LLC as he takes over as chief executive officer of the struggling private rail operator.

Pawtucket, Rhode Island’s bet that a new 10,500-seat soccer stadium along the Seekonk River can jump-start its fading mill-town economy has already paid off handsomely for one boutique investment firm.

Aging baby boomers are boosting the senior living sector, just a few years after the Covid-19 pandemic pushed almost 100 facilities funded by municipal bonds into default.

Democratic Mayor-elect Zohran Mamdani, facing a deficit of as much as $10 billion in the next fiscal year, named a veteran of three mayoral administrations as New York City’s budget director.

Brightline, the private rail line between Miami and Orlando, said it’s considering issuing $100 million in additional debt for operations and to pay potential legal claims, according to its latest ridership and revenue report.

A California hospital about 70 miles north of Sacramento filed for Chapter 11 bankruptcy Monday after failing to sell itself or secure an affiliation with a larger hospital system.

Fortress Investment Group plans to sell two resorts on St. Thomas in the US Virgin Islands through a deal that will be financed by municipal bonds, and which will allow the territory to ultimately acquire the property.