News and Information from Bond Buyer

The Casper, Wyo. City Council last week approved plans for an $8.5 million redevelopment of the city's downtown.

Prices of top-rated municipal bonds finished stronger on Monday, according to traders, as the first of the week’s paltry new issue supply came to market.

The credit picture for the already junk-rated Chicago Public Schools has become even bleaker as Standard & Poor’s placed the district on CreditWatch with negative implications.

Municipal market participants want to know why it has taken securities regulators so long to stop Christopher Brogdon from swindling investors by misusing for personal gain the proceeds of bonds and private placements that were supposed to finance the purchase and renovation of senior living facilities.

A compromise measure reconciling House and Senate transportation funding bills could be ready for action next week.

The notion of option-adjusted spread (OAS) is the standard analytical tool for taxable fixed income securities. It is also making inroads into the muni market. Unfortunately the usual implementation for munis is flawed, rendering the results virtually meaningless. So it is understandable that many muni professionals shy away from OAS in favor of the archaic ‘yield-to-worst’ approach. Correct implementation would undoubtedly attract converts.

Texas’ El Paso County Hospital District received a two-notch Standard & Poor’s downgrade in the wake of the district’s legal settlement with an affiliated children’s hospital that’s in bankruptcy.

Standard & Poor's Ratings Services said it lowered its long-term rating and underlying rating on Homewood-Flossmoor Park District, Ill.'s general obligation debt three notches to BBB-plus from A-plus.

The Municipal Securities Rulemaking Board's proposed rule changes to lengthen its board members' terms to four years from three has garnered general support from dealer and advisor groups as well as the Securities and Exchange Commission's Office of the Investor Advocate.

The Treasury Department Monday auctioned $26 billion of two-year notes with a 7/8% coupon at a 0.948% yield, a price of 99.855714.

Prices of top-rated municipal bonds were flat in quiet mid-session activity, according to traders, as the first of the week's paltry new issue supply came to market.

Chicago's top-rated sales tax credit took a three notch blow over the city's budget and pension strains.

Oklahoma plans to price $115 million of revolving fund revenue bonds to replenish its loan pool for local water utilities.

Ohio Gov. John Kasich's signing of legislation that partially restores an expiring school funding revenue source is a credit positive for 75 school districts, Moody's Investors Service said.

An Allen, Texas, bond committee has ranked $103 million of projects that could show up on a bond proposal next May.

Standard & Poor's stripped Ohio-based Alliance Community Hospital of its investment grade rating based on revised stand-alone, acute-care hospital criteria.

Tender rates for the Treasury Department's latest 90-day and 181-day discount bills were mixed, as the three-months incurred a 0.140% high rate, down from 0.145% the prior week, and the six-months incurred a 0.350% high rate, up from 0.330% the week before.

A $500 million power plant in Brownsville, Texas that would have included public investment has been delayed due to low natural gas prices.

The Nassau Interim Finance Authority (NIFA) has brought in a veteran New York City finance official to help the Long Island county iron out an acceptable 2016 budget plan.

Standard & Poor's Ratings Services said it lowered its long-term rating and underlying rating to A-minus from A-plus on El Paso County Hospital District (doing business as University Medical Center, or UMC, of El Paso), Texas' previously issued general obligation debt.