South Carolina

WASHINGTON — The South Carolina Infrastructure Bank, the state’s main issuer for highway project funding, expects to competitively sell $225 million of new-money and refunding bonds on Tuesday, following a downgrade by Moody’s Investors Service to A1 from Aa3 due to weakened debt-service coverage.

WASHINGTON — Pension reform is a top priority for South Carolina’s treasurer-elect, who comes to office as the triple-A state’s pension ­funding level sinks further below the ­national average and as municipal ­investors and regulators are scrutinizing pension funds more closely.

WASHINGTON — Senior bondholders of a South Carolina toll road’s debt are claiming they are owed at least $237.8 million as they continue to wrestle with state transportation officials over a debt restructuring plan.

The Richland County No. 2 School District expects to competitively price $136.6 million of bonds Tuesday, including refunding and taxable qualified school construction bonds.

WASHINGTON — The South Carolina Department of Transportation is challenging the Connector 2000 Association Inc.’s Chapter 9 bankruptcy filing, delaying efforts to restructure $369 million of the agency’s toll road bonds that went into default at the beginning of the year.

BRADENTON, Fla. — Boosted by the popularity of Build America Bonds and refunding opportunities, issuers in the 11 states that comprise the Southeast region sold $34.5 billion of municipal bonds in the first half of 2010, up 7.4% over the same period last year.

WASHINGTON — Florence County, S.C., will begin issuing $122.4 million of revenue bonds Monday for several projects at the McLeod Regional Medical Center as the hospital chain has demonstrated credit strength despite a struggling regional economy and the changing health care environment.

Investors and the state of South Carolina are haggling over who will get a bigger share of revenue from a bankrupt bond-funded toll road.

WASHINGTON — The Connector 2000 Association Inc., the troubled South Carolina toll road that went into default on Jan. 1, filed for bankruptcy on Thursday.

WASHINGTON — The South Carolina State Housing Finance and Development Authority next week expects to price $100 million of homeownership revenue bonds in its first issuance under the Treasury Department’s New Issue Bond Program.

The city of Florence expects to competitively issue $99 million of refunding and new-money bonds for its water and sewer system on April 20.

WASHINGTON — South Carolina this week will competitively sell $324 million of new-money and $336.5 million of refunding general obligation bonds, foregoing Build America Bonds partly because of a growing concern that federal lawmakers or regulators could lower the subsidy rate or actual payments.

WASHINGTON — The South Carolina-based issuer of $322.5 million of toll road revenue bonds that are in default appears to be preparing to file for bankruptcy, according to a disclosure ­document.

WASHINGTON — South Carolina lawmakers last Wednesday voted against legislation that would have paved the way for restructuring more than $200 million of tax-exempt bonds issued by the Southern Connector 2000 Association for a 16-mile toll road in Greenville, which went into default on Jan. 1.

WASHINGTON — More than $200 million of toll revenue bonds issued by the Connector 2000 Association Inc. for a 16-mile toll road in Greenville County, S.C., defaulted on Jan. 1, in what sources said is the first public-private partnership default in the state.

WASHINGTON — South Carolina Gov. Mark Sanford’s proposed fiscal 2011 budget, submitted Thursday to lawmakers, would cut general fund spending by 5.3% but not raise taxes.

South Carolina's budget and control board voted Tuesday to cut the budget by 5%, or about $238 million, the second round of spending cuts this fiscal year.

The Charleston County Airport District’s outstanding revenue bonds were upgraded last week to A1 from A2 by Moody’s Investors Service despite a negative outlook on the airport sector, which the agency expects to maintain through early 2010. The airport has $13.3 million of rated debt outstanding.

WASHINGTON — The South Carolina Public Service Authority, the state’s largest issuer in 2008, will begin selling $418.6 million of tax-exempt and taxable new-money and refunding bonds today as the power utility begins to shift toward nuclear energy and away from coal-generated electricity.

The Lexington County School District No. 4 expects to competitively sell $9.75 million of general obligation new-money debt today.