News and Information from Bond Buyer

Build America Mutual reported that its claims-paying resources grew to a new high of $601.4 million at the end of 2015. Total par outstanding reached $22.5 billion, which is an increase of 82% from the end of 2014.

Veteran banker Gavin Murrey will work alongside Rob Baird, who is the current head of Public Finance/Debt Investment Banking at Raymond James.

Los Angeles revenues for fiscal 2015-16 are coming in $170 million less than projected.

New York MTA expects to formally submit its proposed $29 billion five-year capital program to a state review board “in the next month or two,” an official said.

A divided Louisiana Legislature has balked at some measures aimed at pulling the state out of a $940 million current-year deficit.

Experts and Puerto Rican lawmakers are encouraging Congress and commonwealth officials to include fiscal responsibility laws in any legislative package designed to help the island.

Illinois’ latest tax revenue projections add another degree of difficulty to its already intractable budget deadlock.

Stability in key sectors of the municipal bond market, as well as low volatility, low risk, and a mild potential for capital appreciation will fuel solid demand for the asset class in 2016, according to John Miller, who manages or co-manages about $20 billion of munis at Nuveen Asset Management.

Group says National Parks Service could whittle down much of its $12 billion maintenance backlog with public-private partnerships.

Maryland has selected its preferred private partner for the multi-billion dollar Purple Line light rail project, Gov. Larry Hogan said Wednesday.

Texas sales tax revenue fell 6.8% in February compared to the same month last year and is down 4% over the past three months, according to Comptroller Glenn Hegar.

MBIA Inc. said operating income in the fourth-quarter and 2015 fell by more than 50%, as the bond insurer reduced its Puerto Rico exposure and created shareholder value through buy backs.

Top shelf municipals continued to weaken on Wednesday, traders said, as more supply kept on coming, with big deals from New York and Massachusetts being offered up to investors.

Adam Barsky, a former budget director under former New York City Mayor Rudolph Giuliani, has been tapped to chair the fiscal control board for Long Island’s Nassau County.

Citizens are bearing the brunt of the crisis, a report from the advocacy group Hedge Clippers finds, as the government slashes spending on health care, legal services, pensions and education.

Florida lawmakers are close to an agreement that would establish a new bond financing program that allows certain municipal utilities to securitize customer charges.

New York City business activity "expanded at the slowest pace in five months," in February, as the current business conditions index fell to 53.6, from 54.6 in January, the Institute for Supply Management-New York's Report on Business index, released Wednesday, indicated.

Municipal bond traders are set to see a second wave of new issue supply sweep over the market on Wednesday, the busiest primary week of 2015.

Private-sector employment increased by 214,000 in February, on a seasonally adjusted basis, ADP reported Wednesday.

Mar. 2, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.24 2.43 3.44 4.45 Indiana Aaa/AAA/AA+ 0.39 0.99 1.88 2.92 Iowa Aaa/AAA/AAA 0.39 0.98 1.88 2.92 Michigan Aa1/AA+/AA 0.42 1.01 1.99 3.05 Minnesota Aa1/AA+/AA+ 0.39 0.95 1.79 2.8 Missouri Aaa/AAA/AAA 0.39 0.92 1.77 2.81 Nebraska NR/AAA/NR 0.39 1.01 1.93 3 North Dakota Aa1/AA+/NR 0.42 1.06 1.96 3 Ohio Aa1/AA+/AA+ 0.41 1.02 1.96 3.01 South Dakota NR/AA+/AA+ 0.41 1.01 1.96 3.02 Wisconsin Aa2/AA/AA 0.4 1.01 1.93 2.95