News and Information from Bond Buyer

Hartford, Conn., Mayor Luke Bronin called his city's four-notch downgrade to junk by Moody's "a sober assessment" of the city's fiscal state.

Municipal bond traders are returning to their desks after the three day holiday weekend, set to see a substantial supply slate on tap. Volume for the week is estimated at $8.41 billion, consisting of $7.58 billion of negotiated deals and $834.80 million of competitive sales.

Alan Schankel, managing director at Janney Capital Markets, chats with Bond Buyer Northeast regional editor Paul Burton, examines the three active bond insurers and explains how an upward move and widening of interest rates and credits spreads could position them for growth.

Tuesday, October 11 Issuer St Description Amount

Tuesday, October 11 Issuer St Description Amount

Week Of October 11 Issuer St Description Amount

Week Of October 11 Issuer St Description Amount

ILLINOIS

CALIFORNIA

Oct. 11, 2016 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA-/NR 0.83 1.21 1.86 2.69 Arkansas Aa1/AA/NR 0.79 1.13 1.73 2.54 Colorado Aa1/AA/NR 0.8 1.19 1.82 2.65 Kansas Aa2/AA/NR 0.8 1.18 1.82 2.63 New Mexico Aaa/AA+/NR 0.8 1.13 1.74 2.57 Oklahoma Aa2/AA+/AA+ 0.8 1.19 1.84 2.67 Texas Aaa/AAA/AAA 0.83 1.21 1.82 2.66 Utah Aaa/AAA/AAA 0.78 1.08 1.64 2.45

10/3/2016 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 6 $973,850 8 $1,098,005 -$124,155 Arkansas 7 35,245 10 70,595 -35,350 Colorado 4 46,200 4 45,355 845 Kansas 2 14,315 3 16,005 -1,690 New Mexico 2 62,000 1 42,000 20,000 Oklahoma 5 1,850 18 101,890 -100,040 Texas 37 1,379,418 40 2,912,455 -1,533,037 Utah 2 29,545 5 256,820 -227,275

Day Indicator Last Report Forecast Thursday Import Prices Aug.: -0.2% Sept.: +0.1% Thursday Export Prices Aug.: -0.8% Sept.: unch Thursday Initial Jobless Claims 10/1: 249,000 10/8: 253,000 Thursday Continuing Claims 9/24: 2.058M 10/1: n/a Thursday Budget Statement Aug.: -$107.1B Sept.: n/a Friday PPI Aug.: unch Sept.: +0.2% Friday PPI Core Aug.: +0.1% Sept.: +0.1% Friday Retail Sales Aug.: -0.3% Sept.: +0.6% Friday ex-Autos Aug.: -0.1% Sept.: +0.4% Friday Business Inventories July: unch Aug.: +0.2% Friday Michigan Sentiment Sept.: 91.2 Oct.: 92.0

Oct. 10, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA-/AA- 0.93 1.48 2.16 2.98 Delaware Aaa/AAA/AAA 0.78 1.07 1.63 2.44 Maine Aa2/AA/AA 0.8 1.15 1.76 2.56 Maryland Aaa/AAA/AAA 0.78 1.11 1.67 2.45 Massachusetts Aa1/AA+/AA+ 0.81 1.19 1.8 2.64 New Hampshire Aa1/AA/AA+ 0.8 1.12 1.68 2.54 New Jersey A2/A/A 1.13 1.66 2.34 3.13 New York Aa1/AA+/AA+ 0.78 1.08 1.7 2.6 Pennsylvania Aa3/AA-/AA- 0.98 1.54 2.18 3.02 Rhode Island Aa2/AA/AA 0.83 1.27 1.96 2.8 Vermont Aaa/AA+/AAA 0.78 1.09 1.66 2.46 Dist. of Columbia Aa1/AA/AA 0.81 1.19 1.84 2.67 Puerto Rico Caa3/CC/CC 45.78 17.08 11.89 8.85

10/7/2016 9/30/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 4 $30,180 0 $0 $30,180 Delaware 0 0 1 53,000 -53,000 Maine 1 3,800 2 33,700 -29,900 Maryland 5 770,030 2 49,505 720,525 Massachusetts 3 40,492 9 2,407,046 -2,366,554 New Hampshire 0 0 2 56,185 -56,185 New Jersey 7 98,282 8 113,126 -14,844 New York 16 1,414,158 19 2,146,687 -732,529 Pennsylvania 12 290,840 13 173,940 116,900 Rhode Island 0 0 1 250,000 -250,000 Vermont 2 20,000 0 0 20,000 District of Columbia 0 0 0 0 0 Puerto Rico 1 750,000 1 750,000 0

Government

Moody's Investors Service has downgraded the rating on Philadelphia Authority for Industrial Development (PAID), PA's $958.4 million Pension Funding Bonds (City of Philadelphia Retirement System), Series 1999A-1999C and $299.8 million City Service Agreement Refunding Revenue Bonds, Series 2012 (Federally Taxable) to A3 from A

The municipal market won’t slow down, not even during a holiday shortened week, as an excess of $8 billion is on the calendar for the four days.

Chicago received an outlook boost from S&P Global Ratings, to stable from negative.

Dallas’ growing pension problems led Fitch Ratings to downgrade the city’s $1.7 billion of general obligation debt to AA from AA-plus.

Larry Kidwell, president of Brentwood, Tenn.- based Kidwell and Company, has been elected as the new president of the National Association of Municipal Advisors.