News and Information from Bond Buyer

Week Of May 2 Issuer St Description Amount

Week Of May 2 Issuer St Description Amount

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Some version of Detroit’s so-called “grand bargain” could help other fiscally struggling Rust Belt cities, including Chicago, the Manhattan Institute for Policy Research says in a report.

Government

Fitzgerald Public School District in Macomb County, Michigan lost its investment grade rating on its limited tax general obligation bonds and remains at risk of its unlimited tax GOs also falling to a speculative grade.

Top rated municipal bonds finished stronger on Tuesday, according to traders, with yields on some maturities falling by as much as four basis points. U.S. Treasuries were stronger on Tuesday as stock prices fell on worries about global economic growth.

Puerto Rico’s legislature rejected the roll-out of a value added tax and approved a measure aimed at helping the Puerto Rico Aqueduct and Sewer Authority sell bonds.

The Southern California Logistics Airport Authority’s subordinate tax allocation revenue bonds enjoyed a Moody’s Investors Service upgrade to B3 from Caa2.

Montana Gov. Steve Bullocks wants lawmakers to focus on infrastructure in 2017 session.

Preliminary plans to relocate the National Football League’s Oakland Raiders to Las Vegas call for the creation of a Clark County Stadium Authority that would issue up to $750 million of bonds to help finance a new $1.4 billion stadium under a public-private partnership agreement.

Illinois’ recent approval of some funding for higher education and student aid does little to calm concerns about the long-term impact of the funding drought on state university and community college balance sheets and reputations.

The outlook on Kansas’ Aa2 rating from Moody’s Investors Service fell to negative Tuesday, as state lawmakers approved a budget that allows Kansas Gov. Sam Brownback to make further cuts in spending.

The interest rate environment can have a big effect on issuers' debt management programs. Here’s how to incorporate interest rates prudently to ensure flexibility and long-term sustainability.

Top rated municipal bonds were stronger at mid-session, according to traders, with yields on some maturities falling by as much as four basis points. U.S. Treasuries were stronger on Tuesday as stock prices fell on worries about global economic growth.

Debate began Tuesday in the Michigan House on a $715 million restructuring of Detroit Public Schools amid mounting growing pressure to act as the district’s fiscal crisis prompted a two-day district-wide “sickout.”

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.170% high yield, a price of 99.986778.

Oregon will sell more than $300 million of highly rated general obligation bonds in several tax-exempt and taxable series next week.

Top rated municipal bonds were stronger in early activity, according to traders, with yields on some maturities falling by as much as three basis points. U.S. Treasuries were also stronger on Tuesday as stock prices fell on worries about global economic growth.