News and Information from Bond Buyer

The municipal bond market is looking at another week of hefty primary issuance as yields begin to make an upward move. Total volume for the week is estimated at $8.64 billion, consisting of $7.10 billion of negotiated deals and $1.54 billion of competitive sales.

In the newest installment of Muni Minute -- The Bond Buyer's 60-second video series that examines a top municipal market story that will impact the coming week -- we take a look at California’s looming $2.3 billion general obligation sale and address several aspects of the deal, including investor opinion on how the state is dealing with its revenue shortfalls, and the potential impact of this week's packed new-issue calendar on the pricing.

Norton Rose Fulbright expanded its municipal bond business by 51% last year, outpacing growth in the market and jumping three rungs higher on the league table rankings for bond counsel.

Mar. 7, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.47 1.34 2.31 3.36 Delaware Aaa/AAA/AAA 0.39 1.03 1.85 2.87 Maine Aa2/AA/AA 0.41 1.09 1.96 3 Maryland Aaa/AAA/AAA 0.4 1.06 1.89 2.88 Massachusetts Aa1/AA+/AA+ 0.41 1.11 2.06 3.08 New Hampshire Aa1/AA/AA+ 0.41 1.07 1.9 2.97 New Jersey A2/A/A 0.75 1.74 2.71 3.73 New York Aa1/AA+/AA+ 0.4 1.04 1.92 3.04 Pennsylvania Aa3/AA+/AA+ 0.55 1.54 2.5 3.4 Rhode Island Aa2/AA/AA 0.45 1.26 2.21 3.23 Vermont Aaa/AA+/AAA 0.4 1.05 1.88 2.89 Dist. of Columbia Aa1/AA/AA 0.42 1.11 2.02 3.07 Puerto Rico Caa3/CC/CC 25.4 15.54 11.36 8.58

3/4/2016 2/26/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 7 $133,715 4 $113,205 $20,510 Delaware 0 0 3 262,540 -262,540 Maine 0 0 1 32,250 -32,250 Maryland 2 75,530 0 0 75,530 Massachusetts 4 213,905 7 1,182,300 -968,395 New Hampshire 0 0 0 0 0 New Jersey 7 271,347 6 240,040 31,307 New York 11 1,418,847 13 1,269,336 149,511 Pennsylvania 3 145,145 7 268,420 -123,275 Rhode Island 0 0 1 4,655 -4,655 Vermont 0 0 0 0 0 District of Columbia 1 56,770 0 0 56,770 Puerto Rico 1 750,000 1 750,000 0

Tuesday, March 8 Issuer St Description Amount

Monday, March 7 Issuer St Description Amount

Week Of March 7 Issuer St Description Amount

Week Of March 7 Issuer St Description Amount

KENTUCKY

Day Indicator Last Report Forecast Monday Consumer Credit Dec.: +$21.3B Jan.: +$16.75B Wednesday Wholesale Inventories Dec.: -0.1% Jan.: -0.2% Wednesday Wholesale Sales Dec.: -0.3% Jan.: -0.3% Thursday Initial Claims 2/27: 278,000 3/5: 275,000 Thursday Continuing Claims 2/20: 2.257M 2/27: 2.262M Thursday Treasury Budget Jan.: +$55.2B Feb.: n/a Friday Import Prices Jan.: -1.1% Feb.: -0.7% Friday Export Prices Jan.: -0.8% Feb.: -0.5%

ALABAMA

To keep current on its own bonds Puerto Rico Aqueduct and Sewer Authority may divert money owed to the Puerto Rico Infrastructure and Finance Authority, the Government Development Bank for Puerto Rico, and the U.S. Department of Agriculture.

Government

The lack of progress in funding Kentucky’s pensions led Standard & Poor's Friday to cut the Kentucky Turnpike Authority’s bonds to AA-minus from AA ahead of a $216 million sale.

Amid growing political opposition Governor Alejandro García Padilla may exercise his option for a 60 day delay.

Ohio-based American Municipal Power Inc.’s planned launch of three additional hydroelectric units on the Ohio River in March and April are positive developments for its credit and the municipal electric utilities it serves, according to Moody’s Investor Service.

House Natural Resources Committee chair Rob Bishop, R-Utah, visited Puerto Rico Friday as part of a multi-day trip to meet with commonwealth officials and groups as Congress continues to debate a reasonable solution for the territory’s fiscal problems.

Water contamination-related lawsuits filed in Chicago and Flint, Mich. stand to influence the sector nationally as the cases draw more scrutiny to the dangers associated with older lead pipe-based systems, Fitch Rating says in a new report.

Anna Sarabian was promoted to partner at financial advisors Fieldman, Rolapp & Associates.