News and Information from Bond Buyer

Moody's Investors Service said it has downgraded to Aa3 from Aa2 the rating on Town of Hempstead, N.Y.'s outstanding limited tax general obligations, affecting $335 million in outstanding debt.

New York City's agreement with its police union reduces uncertainty as amid the city's annual budget process, said S&P.

After failing to sell a bond in January, the U.S. Virgin Islands government is on the verge of making cuts to its operations to handle an imminent financial crisis.

The California State Teachers Retirement System became the latest public pension fund to lower its investment earnings forecast.

Darryl Irick is acting president of the MTA's New York City Transit unit, interim executive director Ronnie Hakim announced.

President Trump's "sanctuary city" order is expected to foreshadow more long-term turbulence for urban-federal relations as the president sought to force compliance with his objectives by threatening to cut federal funding.

Top-quality municipal bonds were slightly stronger at mid-session, traders said, as the bond market was winding down for the week.

Retail municipal investors who prefer discount bonds are becoming more aware of the tax implications of the de minimis rule as interest rates rise.

Phoenix-based Lawson Financial Corp. had its Financial Industry Regulatory Authority membership revoked and its CEO and president was barred from the industry after FINRA found they fraudulently sold millions of dollars of municipal revenue bonds.

The Treasury Department said it will auction $50 billion 34-day cash management bills on Feb. 7.

The Treasury Department said Thursday it will auction $34 billion 91-day bills and $28 billion 182-day discount bills Monday.

S&P Global Ratings said it revised its outlook to negative from stable and affirmed its A-plus long-term rating on Missouri Health & Educational Facilities Authority's series 2006, 2011, and 2015B bonds issued for St. Luke's Episcopal-Presbyterian Hospital (St. Luke's).

The looming closure of the State and Local Government Series, or SLGS, window on March 15, when the debt ceiling suspension is set to expire, introduces new transaction risks that must be properly and prudently managed.

Top-quality municipal bonds were slightly stronger in early activity, traders said, as the bond market was winding down for the week.

"New York City purchasing managers maintained their optimism while adjusting to 'new' normal business conditions in January," as the current business conditions index decreased to 57.7 in December from 63.8 in December, the Institute for Supply Management-New York's Report on Business index, released Thursday, indicated.

Indicator Last Report Forecast Actual Initial Claims 1/21: 260,000 1/28: 250,000 1/28: 246,000 Continuing Claims 1/14: 2.103M 1/21: n/a 1/21: 2.064M Productivity Q3: +3.5% Q4: +1.0% Q4: +1.3% Unit Labor Costs Q3: +0.2% Q4: +2.0% Q4: +1.7%

Feb. 2, 2017 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.92 1.68 2.44 3.2 Florida Aa1/AAA/AAA 0.91 1.7 2.42 3.23 Georgia Aaa/AAA/AAA 0.9 1.63 2.32 3.08 Kentucky Aa2/A+/AA- 0.95 1.79 2.54 3.32 Louisiana Aa3/AA/AA 0.99 2.01 2.87 3.66 Mississippi Aa2/AA/AA 0.92 1.73 2.51 3.33 North Carolina Aaa/AAA/AAA 0.9 1.63 2.31 3.07 South Carolina Aaa/AA+/AAA 0.9 1.64 2.34 3.09 Tennessee Aaa/AAA/AAA 0.9 1.63 2.32 3.08 Virginia Aaa/AAA/AAA 0.89 1.62 2.3 3.06 West Virginia Aa1/AA-/AA 0.93 1.73 2.51 3.28

2/1/2017 1/25/2017 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 3 $60,000 5 $140,465 -80,465 Florida 6 343,280 5 124,280 219,000 Georgia 4 244,645 3 214,210 30,435 Kentucky 4 74,800 3 57,640 17,160 Louisiana 1 42,235 2 45,425 -3,190 Mississippi 3 241,630 1 223,630 18,000 North Carolina 2 55,960 5 169,142 -113,182 South Carolina 1 17,620 1 17,620 0 Tennessee 0 0 2 57,880 -57,880 Virginia 2 268,465 1 192,515 75,950 West Virginia 0 0 0 0 0

Thursday, February 2 Issuer St Description Amount

Thursday, February 2 Issuer St Description Amount