News and Information from Bond Buyer

The Port of Los Angeles will price a $219.2 million revenue bond refunding Wednesday its officials say represents the first green bond sale by a port.

Members of the newly appointed Puerto Rico Oversight Board don’t know the depth of the fiscal problems they will have to address, said Richard Ravitch, the island government’s non-voting representative to the board.

Top-rated municipal bonds were weaker with Treasuries on Tuesday, according to traders, as the first big wave of supply hit the screens, just part of the over $11 billion in new issues slated for sale this week.

Amid a federal corruption probe, Opa-locka, Fla.'s former manager, David Chiverton pleaded guilty to taking pay-offs as a state financial oversight panel attempts to prevent the city from having to file for bankruptcy.

The Financial Industry Regulatory Authority ordered UBS to pay $750,000 in damages to two Puerto Rico bondholders.

Ohio-based American Municipal Power Inc. received a one-notch upgrade from Moody’s Investors Service as it prepares to come to market with a $206 million issue that includes designated “green” bonds.

Lower Manhattan has come back from the 9/11 attacks with a much larger population than it had before, creating new capital spending challenges for New York City.

Indicator Last Report Forecast Actual Budget Statement July: -$112.8B Aug.: -$108.0B Aug.: -$107.1B

S&P Global Ratings said it lowered its rating on Detroit Public Schools (DPS), Mich.'s series 2011 and 2012 bonds secured by state school aid and a limited tax general obligation (GO) pledge to B from BB and BB-minus, respectively.

The federal government ran a $107.1 billion deficit in August, the Treasury Department reported Tuesday.

Funding provided by $200 billion of transit initiatives on November ballots would be big investment boost for public transportation.

Underwriters, advisors, and lawyers working on Chicago’s bond deals must come to City Council finance committee meetings prepared to take the “hot seat” and defend their firms’ ethnic, racial, and gender diversity.

The Treasury Department Tuesday auctioned $12 billion of 29-year 11-month bonds with a 2.25% coupon at a 2.475% high yield, a price of 95.262459.

The House Financial Services Committee on Tuesday passed a bill by a vote of 30 to 26 that would divert the funding the Municipal Securities Rulemaking Board gets from enforcement actions, remove the independence of the Securities and Exchange Commission's Office of Municipal Securities, and allow certain banks to be exempt from liquidity coverage ratio requirements.

Top-rated municipal bonds were weaker at midday, according to traders, as the first big wave of supply hit the screens on Tuesday, just part of the over $11 billion in new issues slated for sale this week.

California Gov. Jerry Brown signed legislation requiring more bond disclosure from California issuers.

The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.630% high yield, a price of 99.363000.

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.250% high yield, a price of 99.980556.

Dennis Lockhart, president and chief executive officer of the Federal Reserve Bank of Atlanta, announced Tuesday he will step down from his position effective February 28, 2017.

St. Louis-based Stifel Financial Corp. reached into Indiana for its latest acquisition, City Financial Corp. in a deal that bolsters Stifel’s already strong public finance foothold in the Midwest and further cements its evolution into a national player in public finance.