News and Information from Bond Buyer

Week Of February 8 Issuer St Description Amount

Week Of February 1 Issuer St Description Amount

Battered by negative headlines about its solvency, labor troubles, and a state takeover threat, the Chicago Board of Education returned to the market Wednesday after a one-week delay to price a scaled-down deal that offered a hefty high yield of 8.50%.

Municipal Market Analytics expects that more California water utilities could experience bond covenant violations as they adjust to lowered revenues from conservation efforts.

Government

The Chicago Board of Education deal remained the hot topic of the municipal market on Wednesday, as bookrunner JP Morgan released pricing on the deal that was originally scheduled to hit the market last week. Munis ended Wednesday stronger, as yields on some maturities were as many as three basis points lower, according to traders.

The Securities and Exchange Commission’s release of a final round of 14 underwriter settlements under its self-reporting initiative may indicate issuer settlement s are next.

Gov. Robert Bentley told legislators Tuesday that bond financing for new prison construction will be paid from the budget that now pays for costly upkeep at aging and overcrowded facilities.

Municipal market participants on a panel here Tuesday said continuing disclosure is improving and credited the SEC's voluntary enforcement initiative with giving it a boost. They also had positive things to say about federal oversight and rules for non-dealer municipal advisors.

Former Texas Gov. Rick Perry told a Bond Buyer conference that policies developed during his record 14 years in office will shield the state from serious damage from falling oil prices.

Pennsylvania road revenues will over the next 12 years will be $6 billion shy of the $34 billion needed for its long-range plan.

The $675 million Chicago Board of Education unlimited tax general obligation with dedicated revenues bonds were priced to yield 7.75% with a 7% coupon in 2026 and 8.5% with a 7% coupon in 2044.

The federal government has approved financial assistance to Washington localities damaged by a storm system in December.

Puerto Rico’s debt restructuring proposal got a cold reception from analysts, with some saying it failed to even provide a starting point for negotiations.

The Chicago Board of Education deal remains in the spotlight, with pricing expected shortly.

Citing declining revenues and a shaky economy, Connecticut Gov. Dannel Malloy ordered across-the-board agency budget reductions of nearly 6%.

Florida’s State Board of Administration Finance Corp. will issue $1.2 billion of taxable bonds for the state’s Cat Fund, pitching investors opportunity to pick up yield.

UBS Wealth Management Americas reported that pretax profits plummeted 94% year-over-year as the firm racked up millions in litigation and recruiting expenses.

Texas state and local governments have learned how to manage the boom-bust cycles of the oil industry and are fairly well positioned for lengthy downturn, experts told the The Bond Buyer’s Texas Public Finance Conference.

Indicator Last Report Forecast Actual ADP Employment Report Dec.: +267,000 Jan.: +195,000 Jan.: +205,000 ISM Non-Manufacturing Dec.: 55.8 Jan.: 55.1 Jan.: 53.5