News and Information from Bond Buyer

Friday, March 10 Issuer St Description Amount

CALIFORNIA

ARIZONA

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose seven basis points to 4.32% in the latest week from 4.25% in the previous week.

The Puerto Rico legislators, journalists and others are raising concerns of a lack of transparency at the federal Oversight Board appointed in August to address the island’s debt crisis.

Government

The Texas Department of Transportation will dedicate an additional $2.5 billion for 19 new projects aimed at relieving congestion in the major metro areas if the supervisory Texas Transportation Commission approves.

The UCLA Anderson Forecast could revise its forecast for California downward if immigration and trade policies floated by U.S. President Donald Trump, become a reality.

The Puerto Rico Oversight Board plans to approve a 10 year fiscal plan for Puerto Rico at a public meeting on Monday.

The San Antonio Water System is facing its first audit by the Internal Revenue Service in years, as the IRS examines the tax-exemption on $83 million of bonds.

Top-quality municipal bonds ended weaker on Thursday, according to traders, as the last of the week’s bigger issues hit the market, including deals from the New York Metropolitan Transportation Authority and the Los Angeles Department of Water and Power.

Bond lawyer and dealer groups are drafting revisions to bond documents for market participants to begin using by June 7 when the Internal Revenue Service’s issue price rules take effect.

Lawyers at NABL’s TSLI conference on Thursday said that while the SEC’s proposed amendments to its list of material events are well-meaning, they would be burdensome for issuers dealing with the numerous new disclosure obligations.

The nation's deteriorating infrastructure will continue to decline without a resolution of a $2 trillion funding shortfall over the next 10 years, the American Society of Civil Engineers said.

Chicago is a standout as the "worst" among its big city peers in key pension system measurements, according to a new S&P Global Ratings pension report.

Former Washington State Treasurer Jim McIntire has joined Star Mountain Capital, a lower middle-market asset management firm, as a strategic advisor serving public pensions and other institutional investors.

Illinois' public colleges and universities remain at risk of further credit damage after 21 months of state budget gridlock, Moody's Investors Service said Thursday.

Louisiana Gov. John Bel Edwards wants coastal protection projects added to the president's high-priority infrastructure list in order to receive expedited federal approval.

The Treasury Department Tuesday auctioned $12 billion of 29-year 11-month bonds with a 3% coupon at a 3.170% high yield, a price of 96.726650.

The absence of a significant plan to combat New Jersey's deteriorating finances will lead to more rating downgrades and wider credit spreads, according to Janney Capital Markets.