News and Information from Bond Buyer

Week Of December 5 Issuer St Description Amount

ALABAMA

Week Of December 5 Issuer St Description Amount

CONNECTICUT

In the week ended Dec. 1, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose 12 basis points to 4.35% from 4.23% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Government

Chicago Mayor Rahm Emanuel scored a major legislative victory with the state House’s overwhelming bipartisan approval of legislation designed to stave off looming insolvency for two of the city’s pension funds.

The Michigan House on Thursday began hearings on a plan introduced by House Republicans to limit retirement healthcare benefits for police officers, firefighters and other government workers in cash-strapped municipalities across the state.

Top-rated municipal bonds again finished weaker, traders said, as the last of the week’s new issue supply came to market Thursday. Munis followed Treasuries lower ahead of Friday’s U.S. employment situation report.

The San Diego Unified School District won The Bond Buyer's 15th annual Deal of the Year award for its $471 million sale which smashed the template for local general obligation bonds in California.

The MSRB issued interpretive guidance on how its rules apply to accounts that are fully managed by a registered investment advisor that is also a sophisticated municipal market professional.

Illinois Gov. Bruce Rauner vetoed legislation that would give Chicago Public Schools $215 million toward pension contributions, a move that potentially slaps the cash-strapped district with a big budget hole to fill.

David Carrington, who was president of the commission that placed Jefferson County, Ala., into Chapter 9, said his experience presents an opportunity for him to consider running for governor.

Los Angeles City Administrative Officer Miguel Santana is stepping down from his current role to work for the Los Angeles County Fair Association.

S&P Global Readings dropped the Virgin Islands Gross Receipts Tax bonds seven notches to B from BBB-plus Thursday.

Georgia-based First Southern Securities has hired Rafael Pagán to help the boutique investment banking firm break into the mergers and acquisitions sector.

Chicago wrapped up its second billion-dollar airport deal within a month at a price that displays how much the market has changed in that short time.

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

Top-rated municipal bonds were weaker at mid-session, traders said, as the last of the week's new issue supply came to market on Thursday.

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