News and Information from Bond Buyer

Top rated municipal bonds remained weaker at mid-session, traders said, with yields on some longer-dated maturities stronger by as much as five basis points.

Almost 60% of market participants at The Bond Buyer and Bond Dealers of America 2016 National Municipal Bond Summit expect Puerto Rico to be the biggest headline in the market this year.

A proposal to ask Illinois voters to increase the state income tax on top earners failed to clear the House.

Standard & Poor's Ratings Services has lowered its rating on Atlantic City Municipal Utilities Authority (ACMUA), N.J.'s water system revenue bonds to 'B-' from 'BBB' and placed the rating on CreditWatch with negative implications.

About of 50 of the 650 registered municipal advisors were examined by the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations in fiscal 2015, the office director told House subcommittee members on Thursday.

Top rated municipal bonds were weaker in early activity, traders said, with yields on some longer-dated maturities weakening by as much as five basis points.

Apr. 21, 2016 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.58 1.02 1.69 2.66 Florida Aa1/AAA/AAA 0.59 1.03 1.7 2.65 Georgia Aaa/AAA/AAA 0.56 0.97 1.59 2.52 Kentucky Aa2/A+/AA+ 0.6 1.11 1.79 2.75 Louisiana Aa3/AA/AA 0.71 1.37 2.11 3.08 Mississippi Aa2/AA/AA+ 0.58 1.07 1.82 2.78 North Carolina Aaa/AAA/AAA 0.56 0.96 1.58 2.52 South Carolina Aaa/AA+/AAA 0.56 1.01 1.63 2.56 Tennessee Aaa/AA+/AAA 0.56 0.99 1.62 2.53 Virginia Aaa/AAA/AAA 0.55 0.96 1.58 2.51 West Virginia Aa1/AA/AA+ 0.59 1.08 1.75 2.7

4/20/2016 4/13/2016 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 4 $227,490 3 $48,510 178,980 Florida 5 903,860 9 1,373,800 -469,940 Georgia 9 1,436,385 3 74,700 1,361,685 Kentucky 4 113,935 2 70,415 43,520 Louisiana 4 392,020 2 43,455 348,565 Mississippi 0 0 3 22,690 -22,690 North Carolina 4 84,095 2 89,700 -5,605 South Carolina 1 125,000 2 33,800 91,200 Tennessee 2 15,325 9 182,460 -167,135 Virginia 7 505,640 5 301,090 204,550 West Virginia 0 0 0 0 0

Thursday, April 21 Issuer St Description Amount

Thursday, April 21 Issuer St Description Amount

Week Of April 18 Issuer St Description Amount

Week Of April 18 Issuer St Description Amount

ARIZONA

ARKANSAS

Citing “persistent and large operating losses,” Standard & Poor’s downgraded Catholic Health Initiatives one notch to A-minus and retained a negative outlook.

Michigan Attorney General Bill Schuette’s criminal probe of the Flint water crisis will include a review of the bond-financed pipeline the Karegnondi Water Authority is building to deliver water to the city.

The San Diego Association of Governments plans a bond sale in mid-July.

Government

The Chicago Teachers Union president attacked Illinois Gov. Bruce Rauner and district leadership in a speech Wednesday, amplifying pressure on the cash-starved district .