News and Information from Bond Buyer

Week Of January 30 Issuer St Description Amount

Week Of January 30 Issuer St Description Amount

CALIFORNIA

ARIZONA

Government

Illinois was downgraded to BBB from BBB-plus by Fitch Ratings, which left the rating on a negative rating watch.

Allen Park, Michigan took its final step toward financial independence on Tuesday, regaining full local control its operations and finances after nearly four years of state oversight.

The Oyster Bay Town Board has appointed a veteran state lawmaker to lead New York State’s fourth largest township three weeks after the resignation of longtime supervisor John Venditto.

Wayne County, Mich. said it expects a general fund operating budget surplus of $44 million, news the county hopes will bolster its fiscal position as it advances plans to complete its downtown jail project that will require $200 million of borrowing.

Puerto Rico’s government and public bodies missed more bond payments Wednesday as the island remained mired in a debt crisis.

Fitch Ratings issued a report to criticize Moody’s Investors Services’ recent assessment of Chicago Public Schools.

Top-rated municipal bonds ended weaker on Wednesday, according to traders, as the Federal Reserve announced it was holding the line on interest rates – for now.

Two Puerto Rico residents are firing back at UBS, saying the firm's challenge in federal court of an $18 million Financial Industry Regulatory Authority arbitration award over losses in Puerto Rico bonds is "a hopeless and baseless attempt at an unwarranted do over."

A federal court should dismiss two lawsuits challenging bond financing for the All Aboard Florida train project because the new administration will review future private-activity bond applications, court filings said.

Business executives tell House panel there are many avenues to increase infrastructure funding.

The Federal Open Market Committee held the fed funds rate target at 0.5% to 0.75% at its most recent meeting, which ended Wednesday.

Market participants interested in serving on the board of directors for the Municipal Securities Rulemaking Board have sixteen more days to apply for a term that would start Oct. 1 and last four years.

Florida Gov. Rick Scott unveiled a record $83.5 billion budget for fiscal 2018 that could set the stage for a confrontation with lawmakers over borrowing plans.

Financial advisor Hilltop Securities Inc. – formerly First Southwest – has agreed to pay $16 million to settle the lawsuit Rhode Island Commerce Corp. brought in the wake of the failed 38 Studios deal.

Top-rated municipal bonds were weaker at mid-session, according to traders, as the Federal Reserve gets set to announce its decision on interest rates this afternoon.