News and Information from Bond Buyer

With Providence, R.I facing a large budget deficit, State Treasurer Seth Magaziner said he is prepared to assist Rhode Island’s largest city in an advisory capacity if needed.

Treasury Department and Internal Revenue Service officials appeared open to modifying the proposed issue price rules they released in June, asking muni market group representatives at a public hearing Wednesday about their concerns and recommended changes.

The Federal Open Market Committee left rates unchanged, noted a slowing of job gains, and tweaked its statement to add the word "raise" to the discussion of the target range for the next meeting.

Broward County, Fla., expects to issue $488.9 million of revenue bonds for its $2.4 billion capital program at the Fort Lauderdale airport amid a boom in passenger traffic and capital construction at major airports in the Southeast.

Five big southeast airports have major capital plans underway, including Ft. Lauderdale-Hollywood International Airport, for which Broward County, Fla. is selling $489 million of revenue bonds Oct. 29. Traffic Growth Helps Spur Fort Lauderdale Airport Deal

The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/8% coupon, a 1.415% high yield, a price of 99.807718.

Data released last week show continued solid performance from the strongest States, but perhaps more importantly, signs of strength in some of the weakest States.

New York MTA's $29 billion capital program is bound for Albany after its board approves the five-year plan.

With more colleges facing fiscal challenges issuing debt for new projects, many higher education institutions are exploring alternative forms of financing, according to Tom Morsch, co-head of Public Financial Management Inc.’s public-private partnership practice.

During the third quarter of 2015 and for the sixth straight quarter, U.S. public finance rating upgrades outnumbered downgrades, according to Fitch Ratings.

Prices of top-quality municipal bonds were steady at mid-session, traders said, as the market went into Fed watch mode ahead of the afternoon's Federal Open Market Committee announcement on interest rates.

The $3.6 trillion municipal bond market may benefit from the infrastructure moves if states, agencies, and localities choose to borrow against the new revenue to provide immediate infusions of construction cash.

The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.168%, at a 0.168% spread, a price of 99.999999.

The Treasury Department said it will auction $35 billion 69-day cash management bills on Oct. 29.

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

Rhode Island would like to keep the Pawtucket Red Sox minor league baseball team but not at any cost, Gov. Gina Raimondo said in an interview.

Municipal bond traders are on Fed watch ahead of Wednesday afternoon’s Federal Open Market Committee decision on interest rates.

Oct. 28, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.98 3.05 3.93 4.96 Indiana Aaa/AAA/AA+ 0.23 1.26 2.15 3.18 Iowa Aaa/AAA/AAA 0.23 1.27 2.15 3.18 Michigan Aa2/AA/AA 0.27 1.33 2.26 3.31 Minnesota Aa1/AA+/AA+ 0.24 1.24 2.09 3.1 Missouri Aaa/AAA/AAA 0.23 1.21 2.06 3.09 Nebraska NR/AAA/NR 0.23 1.28 2.2 3.26 North Dakota Aa1/AA+/NR 0.26 1.33 2.23 3.26 Ohio Aa1/AA+/AA+ 0.25 1.28 2.19 3.23 South Dakota NR/AA+/AA+ 0.27 1.32 2.23 3.28 Wisconsin Aa2/AA/AA 0.26 1.3 2.2 3.21

10/27/2015 10/20/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 10 $115,335 8 $50,055 $65,280 Indiana 18 1,257,620 13 30,310 1,227,310 Iowa 7 27,085 10 79,425 -52,340 Michigan 5 82,105 5 22,530 59,575 Minnesota 30 259,430 34 333,285 -73,855 Missouri 4 95,795 7 248,585 -152,790 Nebraska 0 0 0 0 0 North Dakota 8 78,095 3 86,385 -8,290 Ohio 1 86,275 2 366,000 -279,725 South Dakota 0 0 0 0 0 Wisconsin 14 65,610 11 43,605 22,005

Wednesday, October 28 Issuer St Description Amount