News and Information from Bond Buyer

An uptick in patient volume and the November acquisition of Allegiance Health helped boost Detroit-based Henry Ford Health System’s credit rating outlook.

Odessa, Texas took a one-notch downgrade, following in the footsteps of its Permian Basin sister city of Midland.

Standard & Poor’s Ratings Services this week revised its outlook to negative from stable on both the District of Columbia’s bonds outstanding issued for National Public Radio (NPR) and on its issuer credit rating for the media organization.

California is the least prepared to weather a recession of the four most populous states, according to a Moody’s Investors Service fiscal stress test.

Illinois’ cash-starved higher education institutions will soon get some relief after state lawmakers passed a $600 million funding bill to get them through the summer despite the lack of a state budget.

Hillview, Ky., has filed a motion to dismiss its Chapter 9 bankruptcy case based on a settlement with a creditor that Moody's Investors Service said may prove unaffordable for the small city south of Louisville.

Missouri Senate passes a bill setting up a statewide gasoline tax referendum in November.

Invesco’s Mark Paris is sticking with a strategy of maintaining diversity, liquidity, and credit selectivity in the essential service revenue, lower investment-grade, and nonrated sectors.

Political jockeying over funding for the New Jersey Transportation Trust Fund is putting capital projects throughout the Garden State in danger.

Top-shelf municipal bonds were weaker at mid-session, according to traders, with yields on some maturities as much as two basis points stronger. The market is set to see $7.98 billion of new supply hit the screens next week.

The two years since the announcement of the Securities and Exchange Commission’s Municipalities Continuing Disclosure Cooperation initiative have contained vast improvements in disclosure for the municipal market but there are still issues to tackle and questions to ask as disclosure continues evolving, market participants speaking on a panel here said.

Municipal bond traders are taking a breather after the market saw a rather heavy volume week. Next week looks to be pretty chunky as well, with some deals of size already dominating the new issue calendar.

Week Of April 25 Issuer St Description Amount

Friday, April 22 Issuer St Description Amount

Apr. 22, 2016 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aa1/AA+/AAA 0.68 1.19 1.91 2.83 California Aa3/AA+/A+ 0.59 1.04 1.78 2.63 Hawaii Aa2/AA/AA 0.61 1.05 1.78 2.73 Idaho Aa1/AA+/AA+ 0.56 1.05 1.77 2.72 Montana Aa1/AA/AA+ 0.56 1.06 1.78 2.74 Nevada Aa2/AA/AA+ 0.6 1.09 1.8 2.77 Oregon Aa1/AA+/AA+ 0.58 1.02 1.68 2.61 Washington Aa1/AA+/AA+ 0.6 1.07 1.79 2.75 Wyoming NR/AAA/NR 0.56 1.03 1.69 2.63

ALABAMA

Tuesday, April 26 Issuer St Description Amount

Friday, April 22 Issuer St Description Amount

4/21/2016 4/14/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 $0 0 $0 $0 California 19 1,354,090 19 2,730,465 -1,376,375 Hawaii 0 0 0 0 0 Idaho 0 0 1 63,090 -63,090 Montana 1 64,645 0 0 64,645 Nevada 0 0 0 0 0 Oregon 1 38,365 0 0 38,365 Washington 3 514,485 2 423,655 90,830 Wyoming 0 0 0 0 0

Indicator Last Report Forecast Actual Initial Jobless Claims 4/9: 253,000 4/16: 263,000 4/16: 247,000 Continuing Claims 4/2: 2.171M 4/9: n/a 4/9: 2.137M Philly Fed Manufacturing March: 12.4 April: 7.0 April: -1.6 Leading Indicators Feb.: +0.1% March: +0.3% March: +0.2%