News and Information from Bond Buyer

ALABAMA

1/29/2016 1/22/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 1 $4,300 4 $288,300 -$284,000 Delaware 0 0 0 0 0 Maine 1 1,775 0 0 1,775 Maryland 1 40,000 1 40,000 0 Massachusetts 4 59,693 5 231,821 -172,128 New Hampshire 0 0 0 0 0 New Jersey 2 8,625 7 72,268 -63,643 New York 7 149,038 9 987,783 -838,745 Pennsylvania 5 91,465 5 165,715 -74,250 Rhode Island 0 0 0 0 0 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 1 750,000 1 750,000 0

Government

Moody's Investors Service has downgraded to B2 from B1 the rating on the Chicago Board of Education, IL's $5.5 billion of Moody's-rated general obligation (GO) debt

The Florida Senate and House released fiscal 2017 budgets Friday that are higher than Gov. Rick Scott’s record spending plan; debate remains on Scott’s $1 billion tax cut proposal.

Puerto Rico’s government offered a voluntary debt exchange to bondholders Friday in a meeting in New York City.

Veteran Chicago-based bond attorney Thomas Smith has joined the local office of Greenberg Traurig LLP.

Municipal bonds finished stronger on Friday, traders said, ahead of the upcoming week’s healthy new issue slate. Volume is estimated by Ipreo to come in at $5.37 billion, up from the $4.26 billion sold during the past week, according to revised data from Thomson Reuters. The past week saw a substantially lighter-than-expected load after the Chicago Public Schools postponed its $875 million general obligation bond deal.

Sen. Elizabeth Warren, D-Mass., is trying to amend an energy bill pending before the Senate to include a provision that would halt Puerto Rico creditor litigation until April 1.

The Institute for Supply Management released its annual adjustments to the seasonal factors in its indexes, resulting in the December manufacturing index being lowered to 48.0 from 48.2 and the non-manufacturing being revised up to 55.8 from 55.3.

With falling oil prices taking the bloom off the Lone Star State's economy, bond issuers and industry executives will examine the future at The Bond Buyer's Texas Public Finance Conference in Austin.

Moody’s Investors Service has placed Atlantic City’s junk-level Caa1 credit rating under review for a possible downgrade citing the chance at “bondholder impairment” from looming New Jersey legislation.

The Art Institute of Chicago received two good pieces of news when Moody’s Investors Service revised its outlook to positive and it announced its largest cash gift ever.

Municipal bond volume fell in January as a drop in refunding outweighed a pickup in new money deals, a trend that analysts predicted would continue through the rest of the year.

Voters in Portland, Ore., will decide May 17 on the city's proposed four-year, 10 cent per gallon gasoline tax.

The District of Columbia issued $103 million of tax-exempt bonds this week to help finance construction of the first national museum dedicated to telling the story of law enforcement in America.

Moody's Investors Service has upgraded Glendale, Ariz.'s rating to A2 from A3, citing improvements in the city's "modest" financial position.

Ambac Financial Group's settlement with JPMorgan Chase & Co. may set the stage for an even bigger residential mortgage backed securities case against Bank of America.

Municipal bonds were stronger at mid-session, traders said, ahead of next week's $5.4 billion new issue slate.

The study in contrasts these days between Massachusetts and Connecticut boils down to two words: General Electric.