News and Information from Bond Buyer

Puerto Rico business groups announced Wednesday that they would sue to block the Puerto Rico Electric Power Authority restructuring deal.

A new coalition of labor and business is hoping to persuade Illinois voters to support a constitutional amendment that would halt the diversion of transportation-related revenue.

The California Department of Finance announced that state revenues were $330 million off expectations in July.

The minutes from the Federal Open Market Committee's latest meeting show a somewhat divided panel, with some voters seeing the need for a rate increase soon, while others want more evidence that inflation will rise.

A big increase in New Jersey's gasoline tax would restart work on $3.5 billion of stalled road projects, Gov. Chris Christie said.

The Treasury Department Wednesday sold $25 million 7-day cash management bills, dated Aug. 17, due Aug. 24 at a 0.200% high tender rate.

Bard College in New York's Dutchess County was moved further into junk territory Wednesday after Moody's Investors Service downgraded the school's revenue bonds one notch to B1 with a negative outlook citing increased debt levels.

Top-quality municipal bonds were steady at mid-session, traders said, as they eye a large deal that came to market from an issuer in the Aloha State.

Los Angeles Mayor Eric Garcetti nominated David Wright to be the new general manager for the Los Angeles Department of Water and Power.

Bondholders' poor recovery relative to pensioners in Detroit was typical of municipal bankruptcies, as protecting the workforce has outweighed debt repayment in courtrooms across the nation.

Municipal bond traders will be looking West on Wednesday as they eye a large deal coming from an issuer in the Aloha State.

The Treasury Department said it will auction $25 million 7-day cash management bills on Aug. 17.

Wednesday, August 17 Issuer St Description Amount

Wednesday, August 17 Issuer St Description Amount

Week Of August 15 Issuer St Description Amount

Week Of August 15 Issuer St Description Amount

ARKANSAS

CALIFORNIA

Aug. 17, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa2/BBB+/BBB+ 1.18 2.48 3.06 3.83 Indiana Aaa/AAA/AA+ 0.46 0.91 1.52 2.25 Iowa Aaa/AAA/AAA 0.46 0.9 1.52 2.25 Michigan Aa1/AA-/AA 0.5 0.97 1.6 2.35 Minnesota Aa1/AA+/AAA 0.47 0.89 1.45 2.14 Missouri Aaa/AAA/AAA 0.46 0.84 1.41 2.14 Nebraska NR/AAA/NR 0.46 0.93 1.57 2.33 North Dakota Aa1/AA+/NR 0.49 0.97 1.6 2.33 Ohio Aa1/AA+/AA+ 0.48 0.95 1.56 2.29 South Dakota NR/AA+/AAA 0.48 0.93 1.6 2.35 Wisconsin Aa2/AA/AA 0.49 0.95 1.55 2.27

8/16/2016 8/9/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 12 $718,845 11 $319,575 $399,270 Indiana 6 88,080 9 88,735 -655 Iowa 5 47,050 3 4,885 42,165 Michigan 3 26,495 5 192,315 -165,820 Minnesota 14 148,205 10 67,050 81,155 Missouri 1 54,660 1 50,000 -20,000 Nebraska 1 21,990 0 0 21,990 North Dakota 1 2,610 1 5,535 -2,925 Ohio 5 107,880 3 44,640 63,240 South Dakota 0 0 0 0 0 Wisconsin 22 204,360 20 263,035 -58,675