News and Information from Bond Buyer

3/2/2016 2/24/2016 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 0 $0 3 $167,190 -167,190 Florida 6 520,310 5 465,605 54,705 Georgia 0 0 1 16,870 -16,870 Kentucky 8 116,970 14 252,210 -135,240 Louisiana 1 8,500 2 16,500 -8,000 Mississippi 0 0 1 7,500 -7,500 North Carolina 1 22,350 3 353,630 -331,280 South Carolina 4 229,815 1 38,000 191,815 Tennessee 2 12,350 4 77,450 -65,100 Virginia 1 168,110 6 669,470 -501,360 West Virginia 0 0 0 0 0

ARKANSAS

The State Highway 130 Concession Company led by toll road developer Cintra will try to reorganize under Chapter 11 bankruptcy after revenues from the $1.35 billion project fell far short of projections.

Government

In the week ended March 3, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose three basis points to 4.08% from 4.05% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The ambitions of the $4.1 billion budget Philadelphia’s Mayor Jim Kenney outlined Thursday hinge largely on new borrowing and a proposed soda tax.

An investment banker hired as an expert witness in lawsuits challenging All Aboard Florida’s passenger train service said tax-exempt financing is critical to funding the $3.5 billion project, although the private company says that’s not true.

Michigan Gov. Rick Snyder said he won't resign despite intensifying calls for him to step down.

Chicago-based Cabrera Capital Markets LLC has hired back Brian King, a former Chicago deputy comptroller, to lead a rebuilding and expansion of its public finance business after a fresh infusion of capital.

Top-shelf municipal bonds ended weaker on Thursday, traders said, as Massachusetts’ $1.12 billion of general obligation bonds came to market. Bank of America Merrill Lynch priced the Bay State’s GO deal for institutional investors after a one-day retail order period.

Puerto Rico Gov. Alejandro García Padilla this week bristled at a deadline to provide information to the U.S. Congress, while a candidate to succeed the governor sent an unsolicited response to the information request.

Investors say California’s general obligation bonds will receive a warm welcome when the state prices $2.3 billion into a busy primary market.

Municipal bond trading volume fell 13% during 2015 while the overall number of trades remained relatively stable, continuing a pattern that stretches back to 2007, according to data released Thursday by the Municipal Securities Rulemaking Board.

John Fechter, managing director and head of taxable trading at Wells Fargo Advisors in St. Louis, Mo., has been chosen to chair Bond Dealers of America this year by the group's members.

A Senate bill would remove the state capacity limits for tax-exempt private activity bonds to fund P3 water utility infrastructure projects.

The Treasury Department said it will auction $24 billion three-year notes on Mar. 8.

Pennsylvania slipped closer to a rating downgrade Thursday when Standard & Poor’s placed its AA-minus general obligation rating on credit watch with negative implications.

The first bill Washington Gov. Jay Inslee signed this session may be a big step for the state toward complying with a court order that has been hanging over its finances for years.

The Treasury Department said it will auction $20 billion 9-year 11-month 1 5/8% notes on Mar. 9.

The Treasury Department said it will auction $12 billion 29-year, 11-month 2-1/2% bonds on Mar. 15.