News and Information from Bond Buyer

Week Of May 23 Issuer St Description Amount

Day Indicator Last Report Forecast Tuesday New Home Sales March: 511,000 April: 523,000 Thursday Durable Goods March: +0.8% April: +0.4% Thursday Durable Goods ex-Trans March: -0.2% April: +0.3% Thursday Initial Claims 5/14: 278,000 5/21: 275,000 Thursday Continuing Claims 5/7: 2.152M 5/14: 2.148M Thursday Pending Home Sales March: +1.4% April: +0.6% Friday GDP Q4: +1.4% Q1: +0.9% Friday Michigan Sentiment April: 89.0 May: 95.5 Friday Current Conditions April: 106.7 May: 108.5 Friday Expectations April: 77.6 May: 86.6

KENTUCKY

ALABAMA

Issuers vented their frustrations about the complicated nature of voluntary bank loan disclosure in the municipal market to the Municipal Securities Rulemaking Board chair at the annual GFOA debt committee meeting.

The credit crisis in Puerto Rico may give Congress an opportunity to pass legislation that would allow direct regulation of state and local issuers, municipal market participants said Saturday.

The Securities Industry and Financial Markets Association has released four model documents designed to help municipal advisors as they work to come into compliance with the Municipal Securities Rulemaking Board’s rule outlining the core duties for Mas.

The Government Finance Officers Association is the latest group to cry foul over the Internal Revenue Service and Treasury Department’s proposed political subdivision rules, and called on the IRS to withdraw the proposal.

Government

Munis were mixed at Friday’s close, as some maturities saw yields as much as two basis points higher in the short end and other maturities saw yields as much as two basis points lower in the long end, according to traders.

The Wisconsin Center District board formally signed off Friday on a more than $200 million bond financing for the new Milwaukee Bucks arena, paving the way for a June sale.

Fitch Ratings upgraded Jefferson County, Ala.’s general obligation and issuer default ratings to A from BBB, saying that the county has put finances on a “strong footing.”

California cut or delayed $1.5 billion of projects from a five-year road program as gas tax collections continue to fall.

The House Natural Resources Committee will meet to vote on the recently revised Puerto Rico bill starting on Tuesday and continuing the following day.

In another step forward in a nearly two-year old negotiated restructuring process, Puerto Rico Electric Power Authority’s creditors and insurers agreed to lend the utility $55 million.

United States Bureau of Labor Statistics’ reports on April employment in Puerto Rico were mixed.

The Senate Committee on Banking, Housing, and Urban Affairs has recommended that the full Senate approve President Obama’s two nominees for the Securities and Exchange Commission.

The budget problems of Connecticut, which received two downgrades Thursday, are also a problem for its three largest cities.

Mass. Gov. Charles Baker released a $4 billion capital plan for Fiscal Year 2017 that includes a $2.19 billion cap on general obligation bond issuance, a 3% increase over the previous fiscal year.

Top-rated municipal bonds were mixed at midday, traders said, ahead of next week's $7.68 billion new issue slate.