News and Information from Bond Buyer

New York City officials and market observers on Wednesday weighed in with words of caution about the uncertainties facing the city’s finances, a day after Mayor Bill de Blasio released his $84.7 billion preliminary budget for fiscal 2018.

New York’s Metropolitan Transportation Authority board switched tracks and shielded single-fare riders from the latest round of biennial fare and toll increases.

S&P Global Ratings said it has lowered its rating on the Virgin Islands Public Finance Authority's (VIPFA) senior-lien matching fund notes to B from BB and its rating on subordinate-lien matching fund notes, issued for the U.S. Virgin Islands (USVI), by two notches to B from BB-minus.

States have more than 300 infrastructure projects they say could be funded by President Trump’s program.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 7/8% coupon, a 1.988% high yield, a price of 99.464699.

Moody’s Investors Service restored the Town of Oyster Bay’s credit rating Tuesday at an investment grade, a year after the Wall Street firm removed the rating of New York’s fourth largest township citing to a lack of audited financial statements.

Gainesville Hospital District in North Texas is reorganizing under Chapter 9 bankruptcy with $19.7 million of general obligation bonds insured by Ambac.

In oral arguments on Jefferson County, Ala.’s bankruptcy plan last month, the 11th Circuit Court of Appeals expressed concern that ratepayers challenging the plan did not request a stay before bonds were sold.

Top-quality municipal bonds were weaker at mid-session, traders said, as more supply hit the market on Wednesday

The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.140%, at a 0.140% spread, a price of par.

Illinois' latest stab at pension reform is unconstitutional and will face a court challenge if it becomes law, a union lawyer warned lawmakers Tuesday.

The latest version of a sweeping bipartisan Senate plan aimed at breaking Illinois' political gridlock and solving the state's fiscal mess would generate more than $6 billion in fresh revenue from new and increased taxes.

Municipal bond traders are awaiting the next raft of issuance to come to market on Wednesday, led by issues from California and Maryland.

Jan. 25, 2017 Midwest: Plain/Insured GO Yield Curve* State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 14 $296,908 14 $1,447,440 -$1,150,532 Indiana 8 152,260 8 163,370 -11,110 Iowa Michigan 17 221,265 25 361,100 -139,835 Minnesota 12 103,435 18 275,775 -172,340 Missouri 1 5,060 4 72,890 -67,830 Nebraska 1 4,695 3 14,815 -10,120 North Dakota 3 20,500 1 3,310 17,190 Ohio 3 118,990 2 82,170 36,820 South Dakota 1 3,965 1 3,965 Wisconsin 14 65,230 17 171,995 -106,765

1/24/2017 1/17/2017 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 14 $296,908 14 $1,447,440 -$1,150,532 Indiana 8 152,260 8 163,370 -11,110 Iowa 0 0 1 3,400 -3,400 Michigan 17 221,265 25 361,100 -139,835 Minnesota 12 103,435 18 275,775 -172,340 Missouri 1 5,060 4 72,890 -67,830 Nebraska 1 4,695 3 14,815 -10,120 North Dakota 3 20,500 1 3,310 17,190 Ohio 3 118,990 2 82,170 36,820 South Dakota 1 3,965 1 3,965 0 Wisconsin 14 65,230 17 171,995 -106,765

Wednesday, January 25 Issuer St Description Amount

Wednesday, January 25 Issuer St Description Amount

Week Of January 23 Issuer St Description Amount

Week Of January 23 Issuer St Description Amount

ARKANSAS