News and Information from Bond Buyer

FLORIDA

S&P Global Ratings lowered its long-term and underlying ratings to 'BBB-' from 'BBB' on Bourbonnais Village, Ill.'s series 2007, 2010, and 2013 revenue bonds issued for Olivet Nazarene University (ONU or the university).The outlook is negative.

Government

Puerto Rico Gov. Ricardo Rosselló approved extending a tax that is providing 25% of the commonwealth’s revenues and had been planned to sunset in calendar year 2018.

Moody's Investors Service has downgraded the ratings on the US Virgin Islands' four liens of Matching Fund Revenue Bonds, issued through the Virgin Islands Public Finance Authority, as follows: Senior Lien Bonds to Caa1 from B1; Subordinate Lien Bonds to Caa1 from B1; Subordinated Indenture (Diageo) Bonds to Caa2 from B2; and Subordinated Indenture (Cruzan) Bonds to Caa2 from B2.

Indianapolis’ upcoming $68 million bond sale marks a return to property tax-backed debt borrowing for the city after an eight-year absence.

Most of the oil states have gone into recession, S&P Global Ratings said in a new report.

The District of Columbia Water and Sewer Authority has planned a $300 million bond issuance for next month, $100 million of which will be green bonds used to finance a 25-year sewage cleanup project for D.C.

Amid ‘deep uncertainty’ in Washington, New York Mayor Bill de Blasio released his $84.7 billion fiscal 2018 preliminary budget.

The Municipal Securities Rulemaking Board is asking the Securities and Exchange Commission to approve its proposal for a standalone minimum denomination rule that would slightly revise past proposed requirements and is designed to help liquidity and respond to concerns from dealers.

Top-rated municipal bonds finished steady on Tuesday, according to traders, as the first of the week's new supply started to hit their screens.

A repeal of the Affordable Care Act would hamper New Jersey finances, according to state lawmakers fighting to save the landmark national healthcare program.

The Municipal Securities Rulemaking Board on Tuesday announced it will hire Simon Wu, a director with Berkeley Research Group here, to be its chief economist starting on Feb. 6.

Economist Larry Kudlow has joined the Bond Buyer's National Outlook Conference speaking faculty.

The Securities and Exchange Commission’s former director of enforcement Andrew Ceresney will rejoin Debevoise & Plimpton in early March after stepping down from his federal role at the beginning of the year, the firm announced in a statement.

Longtime public finance banker Mark Melio shares his story in a recent memoir recalling his years in the industry.

A 10-year infrastructure proposal from Senate Democrats would provide $1 trillion of federal funding for roads, schools, and airports.

Royal Oak, Mich., is awaiting state approval on a $126 million general obligation-backed retirement obligation bond deal that would help the city pay off its legacy retirement obligations.

The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/8% coupon at a 1.210% yield, a price of 99.832540.

Top-rated municipal bonds were steady at mid-session, according to traders, who were seeing the first of the week's new supply started to hit the screens.