News and Information from Bond Buyer

Tuesday, August 23 Issuer St Description Amount

Tuesday, August 23 Issuer St Description Amount

Week Of August 22 Issuer St Description Amount

Week Of August 22 Issuer St Description Amount

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The Internal Revenue Service on Monday released a revenue procedure containing safe harbors for management contracts that allows them to more easily be used in bond-financed infrastructure and other projects involving public-private partnerships.

Government

U.S. Virgin Islands’ bond ratings were cut to junk level by Fitch Ratings, which cited the territory’s unbalanced budget, rising debt burden and unfunded pension liabilities.

New York’s Suffolk County Off-Track Betting Corp. is nearing the opening of a new casino as part of a plan to exit from bankruptcy.

Alaska’s ratings have been affirmed and the state is no longer on S&P Global Ratings’ CreditWatch, where it had been placed on review for possible downgrade since June 9.

Chicago-based Cabrera Capital Markets again has bankers on the ground on both coasts with the hiring of Brian Corley out west and Bonwick Capital Markets’ municipal banking managers out east.

Top-rated municipal bonds finished stronger on the long end on Monday in light activity, according to traders, ahead of a beefy new issue supply slate, which will start hitting the market on Tuesday.

The Government Finance Officers Association is urging its members to write senators about the need to get companion legislation to a House bill that would classify investment-grade municipal securities as high quality liquid assets under a rule by written by bank regulators.

A study commissioned by San Diego's city government raised concerns about whether a hotel tax the Chargers football team placed on the November ballot will raise enough revenue to fund a $1.8 billion stadium-convention center project.

Chicago Public Schools is seeking a $400 million increase to its short term borrowing capacity to help manage its strained liquidity.

City Colleges of Chicago suffered a two-notch downgrade after it drew down reserves to balance its books amid uncertainty over the timing and size of future state funding.

Advocates say Colorado could unclog roads with an additional $1 billion each year for transit, sidewalks, and bike lanes.

A district court lawsuit challenging the legality of the District of Columbia’s Local Budget Autonomy Act and D.C.’s push for budget autonomy was reassigned to a new judge last month.

The $2.5 billion line of credit Pennsylvania’s Treasury extended to the state to support its general fund is a credit negative, according to Moody’s.