Moody's Downgrades Sunnyvale, Calif., COPs to Aa2
Moody's Investors Service said it has downgraded to Aa2 from the Aa1 the rating on the city of Sunnyvale, Calif.'s certificates of participation. The agency also confirmed the city's Aaa issuer rating....
View ArticleMarket Close: Munis End on Quiet Note after Strong Week
Byline: Taylor Riggs The tax-exempt market ended Friday on a quiet note as traders said bonds traded steady. Throughout the day, traders said bid lists started to wind down as the three-day holiday...
View ArticleFAA Advances Chicago's Exploration of Midway Lease
Byline: Yvette Shields CHICAGO - The Federal Aviation Administration on Friday cleared the path for Chicago to consider privatizing Midway International Airport, allowing the city to release a request...
View ArticleTax-Exempt Status of Charter School Bonds in Question
Byline: Jennifer DePaul The tax-exempt status of $8.5 million of bonds issued by the Delaware River Port Authority in 2003 for the LEAP Academy University Charter School, Inc., could be in jeopardy...
View ArticleMuni Week in Review: Munis Post Gains for Week with Active Primary, Secondary
Byline: Taylor Riggs The tax-exempt market continued to outperform Treasuries this week as new issues in the primary market were well received and the secondary market was active, pushing yields lower...
View ArticleFlorida Court Decision on Pension Reform Is Credit Positive: S&P
Standard & Poor's Ratings Services said Florida's (GO debt rating: AAA/Stable) Supreme Court decision yesterday in favor of the state's pension reform efforts is a positive credit factor. While the...
View ArticleMoody's: Providence Confronts Its Problems
Byline: Paul Burton While calling the $11.4 million general fund shortfall in Rhode Island's capital city a credit negative, Moody's Investors Service praised Providence officials for balancing its...
View ArticleAnalysis: 2012 Regulatory Changes in the Municipal Securities Market
Byline: Andrew Kramer, Interactive Data Corporation The U.S. public policy spotlight shined brightly and consistently on the municipal securities market during 2012. Detailed reports from regulators,...
View ArticleResults of Negotiated Sales
ARIZONA Arizona Transportation Board Jan 16, 2013 . . . . . . $715,470,000 Subordinated Highway Revenue Bonds, Series 2013A (book entry) $602,765,000. Dated Jan 29, 2013. Due Jul 1, 2020 to 2038. First...
View ArticleResults of Competitive Sales
CALIFORNIA Los Altos School District Jan 16, 2013 . . . . . . $25,455,000 2013 General Obligation Refunding Bonds (book entry). Dated Feb 12, 2013. Due Aug 1, 2013 to 2023. Non-callable. Winning bid:...
View ArticleClear Creek ISD Vote Pondered
Byline: Jim Watts A citizens facility committee has suggested that Clear Creek Independent School District, Texas, ask voters in May to approve a $387 million general obligation bond package. The...
View ArticleKansas Budget Shows Surpluses
Byline: Jim Watts The two-year state budget proposed last week by Kansas Gov. Sam Brownback contains $6.08 billion in general fund spending in fiscal 2014 with a rebound to $6.15 billion in 2015. The...
View ArticleDiNapoli: Brooklyn Hospital Faces Financial Crisis
Byline: Robert Slavin SUNY Downstate Medical Center faces insolvency as soon as May, said New York Comptroller Thomas DiNapoli. As of the end of 2012 the Brooklyn center had $154 million in outstanding...
View ArticleUnresolved Lawsuit Could Threaten Investor Interest in $1.5B Ohio Liquor Bonds
Byline: Caitlin Devitt CHICAGO -- As the JobsOhio Beverage System sells $1.5 billion of bonds this week to finance a long-term lease of Ohio's liquor system, investors say a chief concern is an...
View ArticleUtah Muni Power Systems' Central-St. George Bonds Cut to A-Minus by S&P
Standard & Poor's Ratings Services said it has lowered its rating on Utah Associated Municipal Power Systems' (UAMPS) Central-St. George transmission project bonds to A-minus from A-plus. The...
View ArticleCalifornia Superintendent Joins CAB Battle
Byline: Randall Jensen SAN FRANCISCO - California's Department of Education head, Tom Torlakson, has joined Treasurer Bill Lockyer in a fight to curb the sale of what they call high-cost capital...
View ArticleS&P: State and Local Government Forecast 'A Little Brighter'
Byline: Tonya Chin Standard & Poor's has revised its growth forecast upward for most regions in the United States. In addition, the agency's economists have revised their 12-month horizon risk of...
View ArticleMoody's Downgrades Assured Guaranty; Lead Insurer to A2
Moody's Investors Service said it has downgraded the insurance financial strength rating of Assured Guaranty Municipal Corp. (AGM) to A2 from Aa3, Assured Guaranty Corp. (AGC) to A3 from Aa3, and the...
View ArticleU. of Mich. Preliminary Jan. Index at 71.3 vs. 72.9 in Dec
Byline: Gary Siegel The University of Michigan's preliminary January consumer sentiment index reading was 71.3, compared to the final December 72.9, reading, the preliminary December 74.5, and the...
View ArticleMoody's Downgrades Colma, Calif.'s 2003 COPs to A2
Moody's Investors Service said it has lowered the rating on the town of Colma, Calif.'s 2003 certificates of participation (town of Colma Capital Improvement Projects) to A2 from A1, affecting $12.5...
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