News and Information from Bond Buyer

Akron, Ohio-based Summa Health plans to price a $345 million deal this week that includes a refunding, conversion of variable rate debt to fixed rate, and new money to partially fund the health system’s expansion.

Top-shelf municipal bonds were sharply stronger, as yields plummeted as much as 16 basis points for longer maturities, according to traders. The falling yields were welcomed by issuers, especially those facing credit concerns, as the demand was a reflection of the improved market environment, according to one market source.

Indicator Last Report Forecast Actual Consumer Credit Sept.: +$21.8B Oct.: +$19.0B Oct.: +$16.0B

Consumer credit increased by $16.0 billion in October to $3.727 trillion, the Federal Reserve reported Wednesday.

After more than four years, San Bernardino has a clear path to exit its Chapter 9 bankruptcy.

Sen. Marco Rubio introduced a bill on Tuesday that he said would raise wages for workers in Puerto Rico and make hiring new employees more attractive.

Federal civil rights investigation will delay Colorado’s proposed $1.7 billion P3 highway expansion project.

The Securities Industry and Financial Markets Association will be focused on several municipal bond industry initiatives in including disclosure in 2017, the group said at its annual “State of the Industry” briefing in New York on Wednesday.

Fixes for aging infrastructure are essential for the Massachusetts economy, Gov. Charlie Baker told investors in Boston.

State and federal judges in Wisconsin approved final settlement agreements with Stifel and Royal Bank of Canada to conclude an eight-year effort by five school districts to recoup $200 million lost on a risky investment product.

As more new issuance hit the market on Wednesday, yields plunged as much as 16 basis points on the long end, according to traders.

Job openings in the U.S. remained elevated in October and employers' job listings were revised up for the previous month, indicating robust demand for workers, a Labor Department report showed Wednesday.

The Metropolitan St. Louis Sewer District heads into the market with a $150 million mostly new money issue that taps a $945 million voter-approved bonding authorization from 2012.

The president-elect would finance his trillion dollar plan through tax credits, bypassing state and local governments, and may move to tax the interest on their municipal bonds.

The Connecticut Housing Finance Authority received an A-minus from national environmental organization Global Green USA for its energy efficiency.

Florida has taken advantage of favorable market conditions for more than six years capturing $2 billion in savings from refinancings, but the state's top finance official says that run is probably coming to an end.

More municipal bond volume was headed to market on Wednesday, led by big competitive sales from the states of Pennsylvania and New Jersey. Traders are keeping a close eye on yields, which have been trending downward this week.

Rep. Gwen Moore, D-Wis., has drafted a bill that would reorient the entire municipal securities disclosure regime by making state and local government issuers or borrowers, rather than their underwriters, responsible for the disclosure of bond-related information.

Dec. 7, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB/BBB+ 2.04 3.99 4.69 5.34 Indiana Aaa/AAA/AA+ 0.94 1.95 2.63 3.44 Iowa Aaa/AAA/AAA 0.94 1.94 2.63 3.44 Michigan Aa1/AA-/AA 0.99 2.03 2.73 3.56 Minnesota Aa1/AA+/AAA 0.95 1.94 2.57 3.34 Missouri Aaa/AAA/AAA 0.94 1.89 2.52 3.33 Nebraska NR/AAA/NR 0.94 1.97 2.68 3.52 North Dakota Aa1/AA+/NR 0.98 2.01 2.71 3.52 Ohio Aa1/AA+/AA+ 0.98 2.02 2.72 3.54 South Dakota NR/AA+/AAA 0.96 1.97 2.71 3.54 Wisconsin Aa2/AA/AA 0.97 2 2.71 3.52

12/6/2016 11/29/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 13 $166,990 16 $1,171,960 -$1,004,970 Indiana 18 237,160 34 398,560 -161,400 Iowa 0 0 5 48,495 -48,495 Michigan 14 156,280 9 48,655 107,625 Minnesota 27 725,255 21 359,245 366,010 Missouri 6 388,635 9 147,230 241,405 Nebraska 1 33,295 3 86,350 -53,055 North Dakota 2 1,595 1 1,035 560 Ohio 8 476,585 7 110,860 365,725 South Dakota 2 23,265 1 3,965 19,300 Wisconsin 18 209,025 12 111,605 97,420