News and Information from Bond Buyer

The Philadelphia Regional Port Authority sees big economic potential for its plans to develop a 194-acre site at the tip of the Philadelphia Navy Yard.

Municipal bond traders were going through the week’s new issue supply and putting the paper on their books while looking ahead to next week’s new issue slate.

Oct. 23, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.23 1.26 2.12 3.16 California Aa3/A/A 0.24 1.27 2.26 3.36 Hawaii Aa2/AA/AA 0.25 1.31 2.23 3.29 Idaho Aa1/AA+/AA+ 0.23 1.3 2.2 3.25 Montana Aa1/AA/AA+ 0.23 1.29 2.21 3.27 Nevada Aa2/AA/AA+ 0.27 1.32 2.23 3.31 Oregon Aa1/AA+/AA+ 0.23 1.25 2.11 3.16 Washington Aa1/AA+/AA+ 0.26 1.32 2.26 3.35 Wyoming NR/AAA/NR 0.23 1.28 2.12 3.16

10/22/2015 10/15/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 1 $55,710 1 $55,710 $0 California 13 528,195 20 1,592,845 -1,064,650 Hawaii 0 0 1 747,000 -747,000 Idaho 0 0 0 0 0 Montana 0 0 0 0 0 Nevada 1 8,000 1 85,000 -77,000 Oregon 0 0 0 0 0 Washington 2 134,670 3 465,405 -330,735 Wyoming 0 0 0 0 0

Monday, October 26 Issuer St Description Amount

Friday, October 23 Issuer St Description Amount

Friday, October 23 Issuer St Description Amount

ALABAMA

ARKANSAS

Municipal bond funds reported inflows for the third week in a row, according to Lipper data released on Thursday. Weekly reporting funds experienced $240.718 million of inflows in the week ended Oct. 21, after inflows of $520.807 million in the previous week.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell three basis points to 4.34% in the week ended Oct. 22 from 4.37% in the prior week.

Government

A settlement between New Orleans and its firefighters’ union resolving pension and wage disputes is credit positive for the city, though it will stress city finances, Moody’s said.

Puerto Rico Gov. Alejandro García Padilla may not run for reelection and may set up his secretary of state to succeed him, according to Puerto Rico rumors and news reports.

Illinois took its second credit blow this week when Moody’s Investors Service dropped the state’s general obligation debt into the triple-B category Thursday as the state’s prospects for tackling its budget and pension mess dim amid the four-month-old budget stalemate.

Municipal bonds ended slightly stronger on Thursday as the New Jersey Turnpike Authority and Duke University came to market with the last big deals of the week.

Conventional wisdom that municipalities that file for bankruptcy “will never borrow in this town again” has not been found to be true, said panelists at The Bond Buyer’s California Public Finance Conference.

Alaska Gov. Bill Walker Announced this week that he is allowing the Alaska Industrial Development and Export Authority to spend up to $3.6 million, which had already been appropriated, to continue early work on a proposed bond-financed road project.

Moody's Investors Service said it has downgraded the state of Illinois' $26.8 billion of general obligation bonds to Baa1 from A3, while also lowering ratings on the state's sales-tax (Build Illinois) bonds to Baa1 from A3, and on the state's subject to appropriation bonds (issued by the Metropolitan Pier and Exposition Authority and for the state's Civic Center program) to Baa2 from Baa1.

Allen Park, Mich., has delayed the settlement date for its purchase of $11.2 million of the $26.3 million of bonds offered to tender from a troubled issue for a failed movie studio project.