News and Information from Bond Buyer

Detroit-based Henry Ford Health System, one of the largest healthcare systems in Southeast Michigan, hits the market with an $821 million refunding next week sporting an upgrade from one rating agency and a positive outlook shift from another.

The Municipal Securities Rulemaking Board is urging a congressional task force to ensure Puerto Rico and its authorities follow five key principles with regard to their municipal debt, including voluntarily disclosing to investors information on bank loans, alternative financings, and other information that could affect their debt or credit profiles.

States are expected to use almost $800 million of new federal grants aimed at smooth freight shipments to leverage another $3.6 billion of infrastructure investments from other sources.

An opponent of the bond financing plan for the American Dream megamall in East Rutherford, N.J. is going to court to block the transaction.

Top-rated municipal bond were weaker at mid-session, as the last of the week's large muni deals came to market, led by competitive offerings from the Dormitory Authority of the State of New York.

Two large bond offerings from Providence St. Joseph Health, the result of a merger between two major West Coast healthcare providers, epitomize the continuing trend of consolidation in the not-for-profit healthcare sector.

Restructuring the debt of Chicago and Illinois would entail about two years of unpleasant headlines, but the city and the state will rebound far sooner and less painfully than if they stay on their current paths.

The Treasury Department said it will auction $12 billion 29-year 11-month bonds on Sept. 13.

The Treasury Department said it will auction $20 billion 9-year 11-month notes on Sept. 12.

The Treasury Department said it will auction $24 billion three-year notes on Sept 12.

The Treasury Department said it will auction $20 billion year bills on Sept. 13.

The Treasury Department said Thursday it will auction $40 billion 91-day bills and $36 billion 182-day discount bills Monday.

Labor market conditions were "little changed and momentum remained high in August," as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) remained at 0.09 in August from a revised 0.09 in July, first reported as 0.041, according to the Bank.

Chicago's plan to rescue its largest pension fund with the help of a new water and sewer tax cleared a City Council committee despite complaints about the tax’s impact and concerns it doesn’t fully solve the fund’s crisis.

Municipal bond traders are set to see activity in the holiday-shortened primary market wind down on Thursday as the last of week's larger deals hit the screens.

The European Central Bank announced its Governing Council held interest rates at its latest monetary policy meeting Thursday.

The Government Finance Officers Association sent an alert to its members on Thursday about the importance of timely disclosures in the wake of issuer settlements with the Securities and Exchange Commission under its voluntary continuing disclosure enforcement initiative.

CALIFORNIA

Sep. 8, 2016 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.64 1 1.54 2.26 Florida Aa1/AAA/AAA 0.61 1.01 1.55 2.25 Georgia Aaa/AAA/AAA 0.6 0.94 1.44 2.12 Kentucky Aa2/A+/AA- 0.64 1.08 1.64 2.35 Louisiana Aa3/AA/AA 0.73 1.33 1.93 2.63 Mississippi Aa2/AA/AA 0.62 1.04 1.67 2.38 North Carolina Aaa/AAA/AAA 0.6 0.94 1.44 2.12 South Carolina Aaa/AA+/AAA 0.61 0.96 1.48 2.16 Tennessee Aaa/AA+/AAA 0.6 0.94 1.47 2.13 Virginia Aaa/AAA/AAA 0.59 0.93 1.43 2.11 West Virginia Aa1/AA-/AA+ 0.63 1.06 1.6 2.26

9/7/2016 8/31/2016 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 1 $550,000 2 $633,380 -83,380 Florida 8 392,910 6 533,440 -140,530 Georgia 4 1,032,780 4 928,065 104,715 Kentucky 9 382,155 6 101,575 280,580 Louisiana 2 16,050 1 4,000 12,050 Mississippi 0 0 3 13,585 -13,585 North Carolina 4 557,990 2 522,185 35,805 South Carolina 3 47,720 4 47,725 -5 Tennessee 3 138,500 0 0 138,500 Virginia 3 570,000 4 597,430 -27,430 West Virginia 0 0 0 0 0