News and Information from Bond Buyer

House Speaker Paul Ryan, R-Wis., said on Wednesday night that he is instructing all House committees that have jurisdiction over Puerto Rico to work with commonwealth officials to come up with a “responsible solution” for their fiscal and debt crises by the end of March.

The Municipal Securities Rulemaking Board filed proposed rule changes with the Securities and Exchange Commission on Wednesday to extend its political contributions rule to non-dealer municipal advisors and MAs soliciting business for dealers, advisors or investment advisors.

Government

The omnibus spending bill for fiscal 2016 fails to contain any significant help for Puerto Rico, but that should come as no surprise as Republicans and Democrats are still divided over the approach that should be taken, said knowledgeable sources.

The College of DuPage, Ill. board chairwoman Kathy Hamilton, who spearheaded reform efforts that also led to the ouster of the college president and the school’s finance team, abruptly resigned.

Standard & Poor's revised its outlook to positive from stable on Wright Elementary School District, Calif.'s general obligation bonds, and affirmed its A-plus rating.

All Aboard Florida says it remains on track to offer private passenger train service in 2017 even though it was unable to issue $1.75 billion of private activity bonds amid turmoil in the high-yield market.

Indiana would build a new $120 million bond-financed mental health facility in what Gov. Mike Pence’s administration is billing as an affordable option that will usher in a new model of care

Municipals finished steady on Wednesday after the Federal Reserve raised its target for the federal funds rate by 25 basis points, the first interest rate hike since 2006.

Lawmakers are considering a $1.15 trillion omnibus spending bill for fiscal year 2016 that does not extend bankruptcy protection to Puerto Rico, and a more than $621 billion tax bill that would make permanent or extend expired tax provisions, including a few that are bond- and Puerto Rico-related.

Municipals were steady after the Federal Reserve on Wednesday raised its target for the federal funds rate by 25 basis points, the first interest rate hike since 2006.

New York MTA approves its $15 billion operating budget in a warmup act for another capital program battle with Albany.

Municipal bonds were unchanged to slightly weaker at mid-session, according to traders, as all eyes were fixed on the Federal Reserve’s decision on interest rates later in the afternoon.

Standard & Poor's Ratings Services maintained its 'CC' long-term and underlying ratings (SPURs) on Puerto Rico Electric Power Authority's (PREPA) electric revenue bonds. However, the ratings remain on CreditWatch, where they were originally placed with negative implications on June 18, 2014.

The Westchester County Board of Legislators has approved a $1.8 billion 2016 budget that for a sixth straight year will not raise property taxes.

The credit outlook on Paducah Power, Ky., returned to stable from negative after implementing a recovery plan and stronger performance at the Prairie State Energy Campus, Fitch Ratings said.

All is quiet in the market this morning, as everyone is awaiting the Federal Open Market Committee’s announcement on interest rates. It is expected that the Fed will raise rates by 25 basis points from near zero, but we will not know until 2 p.m., EST.

The U.S. November housing data show strength in building that probably will be sustained ahead.

Wednesday, December 16 Issuer St Description Amount

Wednesday, December 16 Issuer St Description Amount