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States are losing more than $1 billion a year by giving breaks on jet fuel taxes to airlines, the Unite Here International Union said in a new report.
The not-for-profit healthcare sector's operating revenue growth hit an all-time low last year as a national shift toward outpatient and preventative care led to a decline in in-patient visits, according to a report from Moody's Investors Service.  more »
Lawyers involved in a conduit bond financing for a charitable nonprofit organization should decide as soon as possible which of them is responsible for ensuring the tax-exempt status of the borrower, the National Association of Bond Lawyers concludes in a just-released paper.  more »
Lawyers involved in a conduit bond financing for a charitable nonprofit organization should decide as soon as possible which of them is responsible for ensuring the tax-exempt status of the borrower, the National Association of Bond Lawyers concludes in a just-released paper.  more »
The trustee on $20 million of unrated bonds issued for the bankrupt Leafs Hockey Club in suburban Chicago hopes to reach a debt restructuring deal with the club by early October but the two sides remain at loggerheads over the club's fiscal prospects.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$5,400,000
Texas
TX
TRANs
08/26/14
11am ET
$317,135
Virginia Pub Bldg
VA
Revenue bonds
08/27/14
11am ET
$160,870
Austin
TX
Improvement bonds
08/27/14
9am ET
$141,343
SCAGO
SC
COPs
08/27/14
11am ET
$118,875
Bossier City
LA
Revenue bonds
08/27/14
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.85%
4.86%
5.40%
4.19%
20-Bond
4.21%
4.24%
5.03%
3.53%
11-Bond
3.94%
3.97%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
123-21
123-14
132-15
107-01
Average Price
107.31
107.10
107.21
84.90
Yield to Par Call
3.92
3.95
6.35
3.57
Yield to Maturity
4.44
4.45
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$438,555
Virginia PBA
VA
Revenue bonds
08/27/14
11am ET
$141,343
SCAGO
SC
COPs
08/27/14
11am ET
$29,215
Virginia PBA
VA
Revenue bonds
08/27/14
11:15am ET
$26,345
Sedgwick Co. PBC
KS
Revenue bonds
08/27/14
11am ET
$16,527
Plainfield
NJ
BANs
08/27/14
11am ET

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Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

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