News and Information from Bond Buyer

Standard & Poor's and Fitch Ratings both downgraded Connecticut's general obligation bonds to AA-minus from AA in advance of the state's $511 million sale.

U.S. transit operators say reliable, dedicated funding is needed to resolve growing maintenance problems.

With revenues continuing to fall below forecast, Kansas Gov. Sam Brownback reduced spending by $100 million, with cuts to universities, transportation, and Medicaid, among other services.

S&P Global Ratings said it has lowered its ratings on the state of Connecticut's general obligation debt outstanding to AA-minus from AA, appropriation-secured debt to A-plus from AA-minus, and Connecticut's moral obligation debt to A-minus from A.

Fitch Ratings said it has downgraded the state of Connecticut's Issuer Default Rating and the rating on the state's general obligation bonds to AA-minus from AA.

The Treasury Department sold $11 billion of inflation-indexed 9-year 8-month TIPs at a 0.275% high yield, an adjusted price of 105.533587, with a 5/8% coupon.

California is beginning to address some key infrastructure gaps, Wells Fargo analysts said in a report.

Bridgeport-Spaulding Community School District and New Haven Community Schools have manageable fiscal stress and will not require emergency management.

Lawmakers on both sides of the aisle are digging in for a struggle over California Gov. Jerry Brown’s revised budget proposal, as both parties try to adjust priorities with California’s fiscal outlook apparently dimming.

The Financial Industry Regulatory Authority has filed a complaint against Phoenix-based Lawson Financial Corp. and the firm's president and chief executive officer, charging them with securities fraud in connection with the sale of millions of dollars of municipal revenue bonds to customers.

The Municipal Securities Rulemaking Board has tapped Susan Collet to become head of legislative affairs, overseeing its congressional and federal government activities.

Top-quality municipal bonds were mixed at mid-session, traders said, as the last of the week's big new issues were coming to market on Thursday.

The Treasury Department said it will auction $13 billion one-year 11-month 0.190% floating rate notes on Wednesday, May 25.

The Treasury Department said it will auction $28 billion seven-year notes on Thursday, May 26.

The Treasury Department said Thursday it will auction $31 billion 91-day bills and $26 billion 183-day discount bills Monday.

The Treasury Department said it will auction $20 billion year bills on May 24.

An unusually weak economic recovery is putting the credit ratings of an increasing number of states in jeopardy.

House members, government officials, and stakeholders all say the newest version of a bill to help Puerto Rico is a step forward, but their support for the measure seems tepid at best.

Indicator Last Report Forecast Actual Initial Jobless Claims 5/7: 294,000 5/14: 275,000 5/14: 278,000 Continuing Claims 4/30: 2.165M 5/7: 2.163M 5/7: 2.152M Philly Fed Manufacturing April: -1.6 May: +3.5 May: -1.8 Leading Indicators March: unch April: +0.4% April: +0.6%

Fitch Ratings said its withdrawal of its ratings on U.S. tobacco asset-securitization bonds, which affects over 40 tobacco issues from New York to California and Michigan to the U.S. Virgin Island, was prompted by uncertainty regarding changes in the terms it views as risks in the Master Settlement Agreement.