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"We're seeing covenants [in loans] that could trigger [the loan's] immediate acceleration," Mal Fallon, managing director at S&P, said.
Analysts and investors are applauding the pressure Standard & Poor's is putting on issuers to disclose their outstanding direct loans.
Gov. Jerry Brown signed a bill into law on Wednesday that will expand an existing law to require California debt issuers to disclose any direct loans from banks to the California Debt and Investment Advisory Commission.  more »
Financial advisor Calvin Grigsby of Grigsby & Associates filed a federal lawsuit against the Shreveport, La., City Council after the city sued his firm accusing him of overbilling financial advisory fees.  more »
Three senators hope to offer an amendment on Senate floor that rejects budget gimmicks and requires passage in 2014 of a longer term transportation funding measure.  more »
Despite significant obstacles, Detroit's proposed plan of adjustment to exit its Chapter 9 bankruptcy is feasible, according to Martha Kopacz, the municipal finance expert hired by the bankruptcy court to assess the plan.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$722,910
New Mexico Mun Auth
NM
Revs
07/22/14
9am ET
$400,000
Maryland
MD
GOs
07/23/14
11am ET
$383,570
Beaverton SD
OR
GOs
07/22/14
9am ET
$379,745
Maryland
MD
GOs
07/23/14
10:45am ET
$310,000
Miami-Dade Co
FL
TANs
07/22/14
11am ET
Index
Current
Previous
High
Low
Rev. Bond
5.07%
5.03%
5.40%
4.19%
20-Bond
4.36%
4.38%
5.03%
3.53%
11-Bond
4.09%
4.11%
4.75%
3.29%
 
Current
Previous
High*
Low*
BB40 Index
121-23
121-22
132-15
107-01
Average Price
105.74
105.72
105.42
84.90
Yield to Par Call
4.13
4.13
6.35
3.57
Yield to Maturity
4.53
4.53
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$400,000
Maryland
MD
GOs
07/23/14
11am ET
$379,745
Maryland
MD
GOs
07/23/14
10:45am ET
$22,230
James City Co
VA
GOs
07/23/14
11am ET
$18,574
Lockport City SD
NY
BANs
07/23/14
11am ET
$12,600
Clarkstown CSD
NY
TANs
07/23/14
11am ET

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As the legal fight over Puerto Rico's Recovery Act heats up, Argentina and Arkansas provide roadmaps to what may lie ahead.

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