News and Information from Bond Buyer

U.S. airports, ports, and toll roads should experience healthy growth in 2016 thanks to a recovering economy and low fuel prices.

The primary union at the Puerto Rico Electric Power Authority has sued to overturn the law that paved the way for its restructuring agreement with creditors.

The Internal Revenue Service is preliminarily challenging the tax-exempt status of bonds issued by the District of Columbia as part of a much lauded public-private partnership to build a new elementary school.

Top shelf municipal bonds ended unchanged on Wednesday, according to traders, with a score of new deals coming to market led by issuers in Louisiana, Maryland and Virginia.

While the key oil production states of Oklahoma, North Dakota and California have all been hit hard by the drop in crude oil prices, the impact varies at both the state and local government level, Moody’s Investors Service says.

A judge ruled Tuesday that Atlantic City is in compliance with payments owed to its school district and now the gambling hub is fighting back against New Jersey in a counter lawsuit.

St. Petersburg, Fla.-based Raymond James hired Brodie Killian, re-establishing an on-the-ground banking presence in Michigan to supplement its retail brokerage operations.

The New York MTA board approved the latest, $29.5 billion, iteration of a five-year capital program that seemingly has had more delays than some of its megaprojects.

A recent Superior Court ruling, a pending district lawsuit and a renewed push for statehood have all set the stage for a budget showdown in the nation’s capital this fall.

Bond attorney Kareem Spratling, whose career was boosted by timely mentoring, wants to assist the careers of lawyers of diverse backgrounds as chairman of the Diversity Committee for the National Association of Bond Lawyers.

Top shelf municipal bonds were mostly stronger at midday, according to traders, with a score of new deals coming to market led by issuers in Louisiana, Maryland and Virginia.

Gov. Andrew Cuomo’s infrastructure proposals set the state up for long-term economic competitiveness.

Hartford, Conn., received a one-notch downgrade from Moody’s Investors Service, to Baa1 from A3.

Indicator Last Report Forecast Actual Existing Home Sales Feb.: 5.07M March: 5.29M March: 5.33M

Existing home sales grew 5.1% to a seasonally adjusted 5.33 million-unit rate in March from a revised 7.3% drop to a 5.07 million sales pace, first reported as a 7.1% decrease to a 5.08 million pace the previous month, the National Association of Realtors announced Wednesday.

California’s Department of Finance reported that March revenues came in $170 million below the $7.6 billion projected in the governor’s budget.

Municipal bond traders are waiting to see more supply enter the market on Wednesday, led by the institutional pricing of a big Louisiana deal.

A plan to resolve Hillview, Ky.'s bankruptcy case led Standard & Poor's late Tuesday to lift the bond ratings of the small city south of Louisville to investment grade from junk.

Apr. 20, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.41 2.58 3.3 4.24 Indiana Aaa/AAA/AA+ 0.56 1.04 1.72 2.66 Iowa Aaa/AAA/AAA 0.56 1.03 1.72 2.66 Michigan Aa1/AA+/AA 0.6 1.09 1.79 2.76 Minnesota Aa1/AA+/AA+ 0.58 1 1.64 2.55 Missouri Aaa/AAA/AAA 0.56 0.97 1.61 2.55 Nebraska NR/AAA/NR 0.56 1.06 1.77 2.74 North Dakota Aa1/AA+/NR 0.59 1.1 1.8 2.74 Ohio Aa1/AA+/AA+ 0.58 1.06 1.74 2.71 South Dakota NR/AA+/AA+ 0.58 1.06 1.8 2.76 Wisconsin Aa2/AA/AA 0.59 1.05 1.73 2.66

4/19/2016 4/12/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 7 $198,965 12 $210,725 -$11,760 Indiana 11 382,220 8 40,695 341,525 Iowa 16 114,425 14 145,560 -31,135 Michigan 11 111,905 12 159,775 -47,870 Minnesota 27 140,865 25 215,585 -74,720 Missouri 2 20,900 2 49,605 -28,705 Nebraska 1 20,135 1 20,135 0 North Dakota 3 193,830 1 8,330 185,500 Ohio 7 128,565 10 442,475 -313,910 South Dakota 0 0 0 0 0 Wisconsin 29 153,705 31 205,515 -51,810