News and Information from Bond Buyer

Louisiana legislators approved a $500 million budget deficit reduction plan by the Jindal administration, though some complained it does not address the state’s structural imbalance.

Government

The Municipal Securities Rulemaking Board released its much-anticipated best execution guidance for dealers on Friday, providing answers to frequently asked questions about the rule as well as the exemption for sophisticated municipal market professionals.

The municipal bond market will see the lowest amount of issuance in a single week so far this year: an estimated $784 million, with only one deal greater than $100 million. With Thanksgiving right around the corner, the action in the primary market will be, as expected, few and far between.

Cleveland Hopkins International Airport’s $60 million of ongoing terminal and parking projects are on time and on budget, airport officials told the City Council in a progress report Nov. 18.

The United States Bureau of Labor Statistics released a mixed employment report for Puerto Rico on Friday.

Standard & Poor's has revised its outlook to positive on Whiting, Wis.'s BBB-minus rating citing new practices in place to ensure it will keeps up to date on debt service payments.

The third quarter of 2015 marked 12 straight quarters in which Standard & Poor's Ratings Services upgraded more U.S. public finance ratings than were downgraded, making these three years the longest quarterly streak of upgrades outpacing downgrades since the first quarter of 2001, according to Standard & Poor's.

Cook County’s plan to veer from state law and make an actuarial-based pension contribution offers a “novel approach” that could shape public pension funding debate in Illinois, Fitch Ratings says.

Managing a successful transportation P3 requires political support and public approval from the beginning of the process, experts say.

Washington State's projected costs have increased by nearly $700 million since the legislature approved the 2015–17 budget in June, leaving the state facing a more than $400 million shortfall.

Veronique ‘Ronnie’ Hakim returns as MTA New York City Transit president after 18 months as NJ Transit executive director.

The fiscal control board for Long Island’s Nassau County has rejected its $2.95 billion budget proposal saying it relies too much on uncertain revenue assumptions.

Rhode Island selected Invesco and Ascencus to manage its $7 billion CollegeBoundfund 529 program, replacing AllianceBernstein.

A proposal to split up the main employee pension fund has triggered debate in Connecticut, where an unfunded liability mess contrasts with enviable per-capita income statistics.

When the Colorado General Assembly convenes in January, lawmakers will face a $373 million shortfall that could pose risks for education, healthcare and social services.

Standard & Poor's Ratings Services said it has corrected by lowering its underlying rating on Puerto Rico Highways and Transportation Authority's transportation revenue bonds (series D) with CUSIPs 745190J41 and 745190J58 to CC from BBB.

After one of the busiest primary weeks of the year with over $9 billion of new municipal bond supply coming to market, traders are looking at supply of only $784 million for next week, the lowest week for new issue volume in 2015.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region in November "was largely flat, although expectations for future activity improved considerably," according to the bank's monthly manufacturing survey, released Thursday.