News and Information from Bond Buyer

The Empire State Manufacturing Survey showed "business activity declined for a fourth consecutive month for New York manufacturers," the Federal Reserve Bank of New York reported Thursday, as the general business conditions index narrowed to negative 10.74 in November from negative 11.36 in October.

Nov. 16, 2015 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.37 1.65 2.66 3.67 Delaware Aaa/AAA/AAA 0.28 1.31 2.18 3.18 Maine Aa2/AA/AA 0.31 1.39 2.28 3.29 Maryland Aaa/AAA/AAA 0.3 1.37 2.24 3.19 Massachusetts Aa1/AA+/AA+ 0.32 1.37 2.34 3.36 New Hampshire Aa1/AA/AA+ 0.31 1.38 2.27 3.31 New Jersey A1/A/A 0.65 2.17 3.14 4.14 New York Aa1/AA+/AA+ 0.3 1.33 2.24 3.36 Pennsylvania Aa3/AA+/AA+ 0.5 1.72 2.71 3.71 Rhode Island Aa2/AA/AA 0.38 1.55 2.54 3.54 Vermont Aaa/AA+/AAA 0.3 1.34 2.21 3.2 Dist. of Columbia Aa1/AA/AA 0.34 1.43 2.39 3.42 Puerto Rico Caa3/CC/CC 13.3 12.02 11.39 8.59

11/13/2015 11/6/2015 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 5 $721,745 5 $95,285 $626,460 Delaware 0 0 0 0 0 Maine 1 26,265 0 0 26,265 Maryland 8 1,083,360 4 790,615 292,745 Massachusetts 10 1,028,945 1 75,000 953,945 New Hampshire 2 69,323 0 0 69,323 New Jersey 8 800,957 13 394,482 406,475 New York 16 869,343 3 154,880 714,463 Pennsylvania 10 139,010 4 36,145 102,865 Rhode Island 1 24,980 0 0 24,980 Vermont 1 7,000 2 59,400 -52,400 District of Columbia 1 97,745 1 97,745 0 Puerto Rico 1 750,000 1 750,000 0

Monday, November 16 Issuer St Description Amount

Monday, November 16 Issuer St Description Amount

Week Of November 16 Issuer St Description Amount

Week Of November 16 Issuer St Description Amount

INDIANA

ARKANSAS

Day Indicator Last Report Forecast Monday Empire State Manufacturing Oct.: -11.36 Nov.: -6.0 Tuesday CPI Sept.: -0.2% Oct.: +0.2% Tuesday CPI Core Sept.: +0.2% Oct.: +0.2% Tuesday Industrial Production Sept.: -0.2% Oct.: +0.1% Tuesday Capacity Utilization Sept.: 77.5 Oct.: 77.5 Tuesday NAHB Housing Index Oct.: 64 Nov.: 64 Wednesday Housing Starts Sept.: 1.206M Oct.: 1.162M Wednesday Building Permits Sept.: 1.103M Oct.: 1.150M Thursday Initial Jobless Claims 11/7: 276,000 11/14: 272,000 Thursday Continuing Claims 10/31: 2.174M 11/7: 2.170M Thursday Leading Indicators Sept.: -0.2% Oct.: +0.4% Thursday Philly Fed Manufacturing Oct.: -4.5 Nov.: -0.5

Government

Moody’s Investors Service has revised the University of Chicago Medical Center's outlook to stable from negative thanks to two years of stronger operating margins.

Citigroup municipal strategist George Friedlander is delivering a presentation about how evolving technology is impacting the public finance industry at the Nov. 19 meeting of the Philadelphia Area Municipal Analyst Society (PhAMAS).

Top quality municipal bonds were stronger at the close on Friday, according to traders, as yields on some maturities were as much as four basis points lower. Traders were looking ahead to an estimated $9.4 billion of new issuance in the coming week.

Bond insurers reported lackluster third-quarter earnings, as a low interest rate environment continued to constrain their growth.

Illinois’ unfunded pension obligations worsened slightly in fiscal 2015 while the funded ratio showed modest improvement, according to the Civic Federation of Chicago.

The Internal Revenue Service has issued guidance clarifying that state student loan programs can use tax-exempt bonds to fund parent loans for students and that tax-exempt bonds can be used for a broad range of refinancings that help student loan borrowers take advantage of lower rates.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-minus from A-plus on Lexington, Tenn.'s existing general obligation debt.