News and Information from Bond Buyer

Mar. 23, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.38 2.62 3.54 4.5 Indiana Aaa/AAA/AA+ 0.53 1.18 1.96 2.92 Iowa Aaa/AAA/AAA 0.53 1.17 1.96 2.92 Michigan Aa1/AA+/AA 0.57 1.25 2.07 3.05 Minnesota Aa1/AA+/AA+ 0.54 1.15 1.88 2.81 Missouri Aaa/AAA/AAA 0.53 1.11 1.85 2.81 Nebraska NR/AAA/NR 0.53 1.2 2.01 3 North Dakota Aa1/AA+/NR 0.56 1.24 2.04 3 Ohio Aa1/AA+/AA+ 0.55 1.2 2.02 3 South Dakota NR/AA+/AA+ 0.55 1.2 2.04 3.02 Wisconsin Aa2/AA/AA 0.56 1.21 2 2.95

3/22/2016 3/15/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 6 $98,075 8 $70,560 $27,515 Indiana 4 42,600 7 47,750 -5,150 Iowa 11 94,665 11 52,830 41,835 Michigan 14 302,845 13 163,380 139,465 Minnesota 27 225,425 25 226,975 -1,550 Missouri 2 6,400 3 94,000 -87,600 Nebraska 0 0 1 90,000 -90,000 North Dakota 2 10,615 2 7,360 3,255 Ohio 6 167,476 4 52,800 114,676 South Dakota 0 0 0 0 0 Wisconsin 26 301,675 14 159,725 141,950

Week Of March 21 Issuer St Description Amount

Wednesday, March 23 Issuer St Description Amount

Wednesday, March 23 Issuer St Description Amount

GEORGIA

ARKANSAS

A massive restructuring of Detroit Public Schools to help the district avert bankruptcy cleared the Michigan Senate Tuesday.

Standard & Poor's Ratings Services revised its outlook on New Jersey's general obligation (GO), appropriation, and moral obligation debt to negative from stable.

Government

Severe declines in oil and gas prices that have damaged the economy Williston, N.D. led Moody’s Investors Service to downgrade the Bakken Shale city to speculative grade.

Top-rated municipal bonds were steady to slightly stronger Tuesday, according to traders, as Houston priced the week's biggest bond deal and the New York MTA sold notes in the competitive arena.

Rep. Devin Nunes, R-Calif., this week re-introduced legislation that would bar the federal government from bailing out state and local pension systems and would require state and local governments to file annual pension plan reports with the Treasury or risk losing their ability to issue tax-exempt bonds.

The University of Pennsylvania received a one-notch bond rating upgrade from Moody’s Investors Service, to Aa1 from Aa2.

The U.S. Army’s cost-cutting efforts include renewable energy P3 power projects at installations across the country.

With a potential default looming, Atlantic City is shutting down “non-essential” government services for at least a three-week period next month, its mayor said.

Several of the Supreme Court Justices seemed sympathetic with Puerto Rico’s complaints that a federal appeals court ruling striking down its debt recovery law for its utilities leaves it “in a no man’s land” where it “is not entitled to the benefits,” but “ is subject to the burdens” of Chapter 9.

Michigan is prepping its first general obligation bond issue of 2016 amid growing uncertainty about the long-term impacts on the state’s credit from Flint’s water contamination crisis and the financial plight of the Detroit Public Schools.

Top-rated municipal bonds were steady to slightly stronger in secondary activity at mid-session, according to traders.

The Oklahoma City suburb of Yukon does not have enough money to pay its bills for the remainder of the fiscal year after $1.3 million was taken from a bond fund for general expenses, officials said.