News and Information from Bond Buyer

Consumer credit increased by $25.9 billion in August to $3.687 trillion, the Federal Reserve reported Friday.

Hawaii's test of a road user revenue plan may involve sending motorists mock mileage bills that highlight the potential fees.

California has enhanced its ability to borrow money cheaply and nudged its credit rating into high-grade territory amid a period of rising investor clamor for its bonds, according to the annual Debt Affordability Report from State Treasurer John Chiang.

The Virginia Port Authority's credit ratings have been downgraded by S&P Global Ratings ahead of a planned bond sale that will restructure the authority's debt.

Holders of $113 million of defaulted bonds issued for a Branson, Missouri Airport will get an update on airport operations and an amended forbearance agreement on Oct. 13.

Illinois may refund of some of its $1.5 billion in 2010 tobacco settlement bonds.

The sensible move is to raise the federal funds rate target by 25 basis points, Federal Reserve Bank of Cleveland President Loretta J. Mester said in a televised interview Friday.

Three former Puerto Rican officials and another defendant were found guilty of various charges of government corruption Friday.

The adjusted net pension liabilities of states totaled $1.25 trillion, or 119% of their revenue, in fiscal 2015 and were expected to grow by $50 billion at the beginning of this fiscal year, according to a report by Moody’s Investors Service.

Oklahoma’s Grand River Dam Authority will seek savings through a $460 million advance refunding as the wholesale power provider nears completion of a gas-fired generating unit and repairs another plant damaged by fire.

Vallejo, Calif. received a ratings boost from S&P Global Ratings partly based on anticipation that a temporary sales tax measure could be made permanent in November.

Top-shelf municipal bonds were steady at mid-session, traders said, ahead of the upcoming holiday-shortened trading week. Markets will be closed on Monday for the Columbus Day holiday.

Bank of America Merrill Lynch, Public Financial Management and the State of California extended leads in the league tables during the third quarter, as the municipal bond industry benefited from a surge in supply.

Securities and Exchange Commission examinations of municipal advisors over the past two years found fiduciary duty and fair dealing violations, said SEC officials who cautioned the number of MA exams will increase in 2017.

Pennsylvania Treasurer Timothy Reese expects to huddle with Wells Fargo representatives soon in light of the bank's fake-accounts scandal.

U.S. inflationary pressures were up in September, as the U.S. future inflation gauge gained to 113.1 from an upwardly revised 112.7 reading in July, first reported as 112.6, according to data released Friday morning by the Economic Cycle Research Institute.

Municipal bond traders were putting their sales and purchases into the record books on Friday after seeing one of the heftiest new issue weeks in a while as they look ahead to more volume for next week.

Fitch Ratings said it has downgraded the city of Dallas, Texas' $1.7 billion of outstanding limited tax general obligation debt and issuer default rating to AA from AA-plus.

Oct. 7, 2016 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aa2/AA+/AA+ 0.92 1.24 1.92 2.76 California Aa3/AA-/AA- 0.8 1.15 1.83 2.53 Hawaii Aa1/AA+/AA 0.82 1.2 1.82 2.65 Idaho Aa1/AA+/AA+ 0.78 1.16 1.78 2.62 Montana Aa1/AA/AA+ 0.78 1.15 1.79 2.64 Nevada Aa2/AA/AA+ 0.82 1.18 1.78 2.65 Oregon Aa1/AA+/AA+ 0.8 1.1 1.66 2.49 Washington Aa1/AA+/AA+ 0.84 1.17 1.83 2.71 Wyoming NR/AAA/NR 0.78 1.12 1.7 2.53

10/6/2016 9/29/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 $0 0 $0 $0 California 18 2082070 18 1,108,460 973,610 Hawaii 0 0 9 4,453,375 -4,453,375 Idaho 0 0 0 0 0 Montana 0 0 0 0 0 Nevada 2 47240 1 13,450 33,790 Oregon 3 63315 1 43,790 19,525 Washington 1 52185 2 85,075 -32,890 Wyoming 0 0 0 0 0