News and Information from Bond Buyer

The Fremont-Rideout Health Group received a three-notch Standard & Poor's downgrade to BBB from A on three series of revenue bonds, citing a sharp deterioration in financial performance.

Standard & Poor’s has downgraded DuPage County, Ill.’s water and sewer bonds due to what the ratings agency says are volatile debt-service coverage levels.

Faltering projects designed to boost the economy can expose municipalities to the perils of backing such ventures, Moody's Investors Service said in a commentary.

Prices of top-rated municipal bonds finished stronger on Thursday, according to traders, with yields on some maturities weakening by as much as four basis points.

Chicago Mayor Rahm Emanuel and his finance team can expect tough questions from the muni buyside Friday at the city’s closed-door annual investor conference.

Market groups are pushing the Internal Revenue Service to change its proposed issue price rules to include a safe harbor for competitive deals, warning the failure to do so will disrupt market practices and hurt issuers.

New York’s MTA expects to resubmit its five-year capital program request to state officials by the end of next month, Chairman Thomas Prendergast said.

Texas Gov. Greg Abbott tells road planners to look at projects that eliminate bottlenecks and reduce traffic congestion.

The budget proposal Chicago Mayor Rahm Emanuel released this week leaves many concerns, Standard & Poor’s said in a special bulletin.

Major bond-financed investments have been paying off for some of Northern California’s smaller airports, which have seen their multi-billion dollar projects followed by more airline and passenger business.

The Treasury Department auctioned $29 billion of seven-year notes, with a 1 3/4% coupon and a 1.813% high yield, a price of 99.587587.

Prices of top-rated municipal bonds were stronger at mid-session, according to traders, with yields on some maturities weakening by as much as four basis points.

The Treasury Department said Thursday it will auction $18 billion 91-day bills and $18 billion 182-day discount bills Monday.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region “declined at a similar pace as in previous months, while expectations for future activity dropped considerably,” according to the bank's monthly manufacturing survey, released Thursday.

New York State Comptroller Thomas DiNapoli has designated 44 municipalities across the Empire State as fiscally stressed.

Indicator Last Report Forecast Actual Durable Goods July: +1.9% Aug.: -2.0% Aug.: -2.0% Durable Goods ex Trans July: +0.4% Aug.: +0.2% Aug.: unch Initial Jobless Claims 9/12: 264,000 9/19: 270,500 9/19: 267,000 Continuing Claims 9/5: 2.243M 9/12: 2.240M 9/12: 2.242M New Home Sales July: 522,000 Aug.: 520,000 Aug.: 552,000

Moody's Investors Service said it has downgraded the city of Columbus, Ga.'s general obligation limited tax rating to Aa2 from Aa1, affecting $127.6 million in debt.

Sales of new single-family homes climbed 5.7% to a 552,000 seasonally adjusted annual rate in August, according to data released by the Commerce Department Thursday.

Chicago's Mayor Rahm Emanuel unveiled his proposed 2016 budget for the city on Sept. 22, ahead of the Oct. 15 due date. Although Standard & Poor's Ratings Services' ratings are unaffected by the proposed budget, it considers Chicago's budgetary problems to be substantial, particularly regarding how it will accommodate growing pension contributions in its budget--and this is one of the primary drivers of the rating.