Nebraska

Omaha lost one of its two prized triple-A ratings Friday when Moody's Investors Service downgraded the city to Aa1. But the move did not mean much of a hit to the city's borrowing costs when it headed to market Monday.

The Omaha Public Power District, one of the country's highest-rated utilities, brings its largest borrowing to date to market this week as it continues to struggles with an extended shutdown of its Fort Calhoun nuclear plant.

One of the Midwest's top bond counsel firms, Missouri-based Gilmore & Bell has opened a new Nebraska office in Omaha, staffed by a trio of public finance attorneys who join the firm from competitor Baird Holm LLP.

Moody's Investors Service affirmed the A1 rating for the Metropolitan Utilities District of Omaha, removing it from review for possible downgrade, and assigned a negative outlook.

The Lincoln Electric System, a city-owned utility that boasts some of the lowest electric rates in the country, brings $210 million of bonds to market, starting with a one-day retail order period Wednesday.

Nebraska Gov. Dave Heineman last week vetoed a bill that would give cities the option to hold a referendum on a sales tax increase.

Critics of Nebraska Gov. Dave Heineman’s tax plan said last week the proposal would lead to a $660 million shortfall in the upcoming two-year budget cycle.

Moody’s Investors Service placed the A1-rated Omaha Metropolitan Utility District on review for possible downgrade after years of thin debt-service coverage.

The Internal Revenue Service has told the Nebraska Public Power District that $10 million of the $50.36 million of Build America Bonds it issued in June 2009 may not qualify for the 35% interest subsidy it receives from the Treasury Department because of a dispute over the issue price of the bonds.

Nebraska lawmakers are eying a plan that would allow community colleges to use property tax dollars to back revenue bonds for capital improvements.

The Nebraska Public Power District will price $234 million of new-money and refunding general revenue bonds to capture interest rate savings and finance capital projects at its nuclear plant.

Nebraska Gov. Dave Heineman made a rare appearance before legislators last week, pushing for a $327 million tax-cut plan that would reduce individual and corporate income taxes and eliminate the inheritance tax.

Moody’s Investors Service last week warned of a possible downgrade to bonds issued by the Central Plains Energy Project in 2007.

Standard & Poor’s dropped its rating on the Omaha Metropolitan Utility District to A from A-plus due to decreasing debt service coverage levels, the ratings agency said last week.

CHICAGO - The Omaha Public Power District, one of the nation's highest-rated utilities, comes to market next week with $300 million of electric system revenue bonds.

CHICAGO - A recent ruling by the Nebraska Department of Revenue effectively removes the use of lease-purchase agreements as a tool to finance municipal projects, and the impact is reverberating throughout the state.

Omaha will retain its triple-A ratings from Standard & Poor's and Moody's Investors Service as it heads to market next week with $23.8 million of general obligation bonds.

Moody’s Investors Service last week affirmed its Aa2 on Nebraska’s outstanding certificates of participation, which are issued to finance a variety of leases and equipment purchases for state agencies.

CHICAGO - Some struggling development districts around Omaha have turned to Chapter 9 bankruptcy as a way to restructure debt as they wait out an ailing housing market.

CHICAGO - A bond issuer made up of the University of Nebraska and the city of Lincoln will take competitive bids Tuesday on $100 million of bonds that mark the last large financing for a new arena that is the largest project in state capital's history.