Tennessee

As Tennessee's long-time debt manager retires, Mary-Margaret Collier says she is preoccupied by the prospect that bonds could lose their tax exemption.

Moody's Investors Service on Monday said recent pension reform measures enacted by Tennessee "is credit positive because it lowers the state's contributions to the new plan and provides the state with greater control of its future pension expenses."

Raymond James & Associates Inc. has hired Ted R. Fellman as a senior vice president in the firm's Nashville, Tenn., public finance office.

Nashville will sell $227.9 million of revenue bonds for water and sewer projects Wednesday, then returns to the market April 16 to sell $337.8 million of general obligation bonds.

Historically low interest rates last year helped boost bond sales across the Southeast to $63 billion, an increase of 33% over 2011. The surge in debt was propelled by refundings.

Raymond James Financial plans to drop Morgan Keegan from the name of its fixed income arm later this month.

Mary-Margaret Collier, the long-time director of state and local bond finance in Tennessee, has announced plans to retire capping a 30-year career in public finance.

Tennessee's comptroller has found improper purchasing practices and other questionable activities at Nashville Electric Service, which is an enterprise of Nashville and Davidson County.

Audits of Tennessee’s 95 counties show that many are managing resources well through difficult economic times, though some local governments continue to struggle financially.

Tennessee sold $170.5 million of general obligation bonds on Nov. 14 at the lowest overall interest rates in more than 40 years, state officials said.

Tennessee expects to sell one of the largest competitive deals this week with $140 million of general obligation bonds backed by the state's full faith and credit.

Memphis-based, fixed-income broker-deal Carty & Co. has expanded its new public finance division into Alabama, with an eye toward other states in the Southeast.

Municipal bond issuance in the Southeast during the first half of this year was up by 57% to $34 billion - nearly the same amount that was lost between 2011 and 2010.

The Tennessee State School Bond Authority has closed on a $437.7 million bond deal that will save the state $27.8 million while financing projects at colleges and universities.

Moody's Investors Service changed the rating outlook to positive from stable on the Metropolitan Nashville Airport Authority's $197 million of A2-rated bonds. Moody's also upgraded the authority's $63 million of rental car facility bonds to A3 from Baa1.

With an eye toward expansion, Memphis-based FTN Financial Capital Markets recently brought on six new traders and sales professionals for its muni division.

Tennessee State School Bond Authority will take $427.7 million of higher education facilities revenue bonds to market Wednesday and Thursday to catch a favorable market.

Standard & Poor's revised its outlook to positive from stable on the Tennessee State School Bond Authority's AA-rated bonds ahead of an upcoming sale.

After two years with Jefferson County, Ala., David Hooks will return to the private sector joining a Memphis broker-dealer where he will develop an institutional sales network.

Tennessee's revenue collections continued an upward trend in May with growth of 3.4% over the same month last year.