News and Information from Bond Buyer

Cash-strapped colleges and universities are increasingly likely to opt for P3 financing of campus infrastructure.

The Internal Revenue Service said Thursday it has both added an interactive feature to its Form 8038-CP to help taxpayers avoid mistakes and updated how it processes the forms’ requests for refundable credit payments.

San Bernardino is negotiating with smaller creditors after having reached tentative agreements with employee unions, California Public Employee’s Retirement System and pension bondholders.

South Dakota won a second triple-A rating as Fitch Ratings upgraded the state to AAA citing ample reserve balances and history of maintaining budgetary balance.

Kevyn Orr, who put Detroit into bankruptcy, said Chapter 9 is an option Chicago should have on the table as it steers its way through financial problems.

Development of Philadelphia’s 30th Street Station and several follow-up projects planned in the immediate area will generate billions in new taxes to the city and state, Amtrak and its partners said.

House Financial Services Committee members unanimously approved a bill on Thursday that would put an end to a current legal loophole that a lawmaker contends allowed broker-dealers to defraud Puerto Rico investors.

A former vice president at Bryn Mawr Trust Co. is asking several federal and state agencies to investigate the Pennsylvania bank for possible fraud.

Illinois competitively sold $550 million of general obligation bonds into an historically low rate environment on Thursday as yields on top-rated municipal bonds dropped to record lows across the scale at mid-session.

Illinois capital projects, including the Department of Transportation construction program, face imminent shutdown without at least a stopgap budget in place, officials in the administration of Gov. Bruce Rauner said.

The city of Los Angeles is set to offer $1.46 billion of tax and revenue anticipation notes on Tuesday, June 21, in what will be the largest TRAN offering in the United States this year.

Puerto Rico set up a registry of investors to foster two-way communication with all of its bondholders, making it easier for them to take “collective actions,” which may include debt restructuring votes.

Wilmington Trust opened a new office in Birmingham, Ala., as part of an expansion of its corporate trust services in the Southeast; six new employees will offer trust and escrow services.

Municipal bond investors are in a good position to wait out the Federal Reserve, after policy makers left the target interest rate unchanged and signaled increases will be gradual, strategists said.

Moody's upgraded the rating of the Mets' Citi Field bonds out of junk to Baa3 from Ba1, citing the team's World Series appearance last year.

California's new, higher legal smoking age of 21 heralds more trouble for tobacco securitization debt, said analyst Richard Larkin.

A day after the market was all but waiting on the Fed, the last of the volume for the week will hit screens on Thursday. Issuers who were brave enough to come to market the day after the Fed decision will be rewarded with historically low yields, which were achieved yesterday.

Indicator Last Report Forecast Actual Empire State Manufacturing May: -9.02 June: -3.00 June: +6.01 PPI April: +0.2% May: +0.3% May: +0.4% PPI Core April: +0.1% May: +0.1% May: +0.3% Industrial Production April: +0.7% May: -0.1% May: -0.4% Capacity Utilization April: 75.4% May: 75.3 May: 74.9

Jun. 16, 2016 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.62 1.04 1.58 2.31 Florida Aa1/AAA/AAA 0.6 1.04 1.59 2.3 Georgia Aaa/AAA/AAA 0.58 0.98 1.48 2.17 Kentucky Aa2/A+/AA+ 0.62 1.12 1.68 2.4 Louisiana Aa3/AA/AA 0.76 1.39 1.99 2.73 Mississippi Aa2/AA/AA+ 0.6 1.08 1.71 2.43 North Carolina Aaa/AAA/AAA 0.58 0.98 1.48 2.17 South Carolina Aaa/AA+/AAA 0.58 0.99 1.52 2.21 Tennessee Aaa/AA+/AAA 0.58 0.99 1.51 2.18 Virginia Aaa/AAA/AAA 0.57 0.97 1.47 2.16 West Virginia Aa1/AA+/AA+ 0.61 1.1 1.64 2.35