News and Information from Bond Buyer

Fitch Ratings has placed $112.5 million of revenue bonds issued for the J. David Gladstone Institute on negative outlook due to "unsustainable" draws on the organization's endowment fund.

The federal government ran a $64.4 billion budget deficit in August, the Treasury Department reported Friday.

Siebert Brandford Shank continued its hiring spree and announced on Friday that it named Wei-Li Pai as National Head of its Quantitative Solutions Group and Philip Wasserman as a Senior Vice President. Both Pai and Wasserman will work out of Siebert’s New York City office.

Municipal bond volume won’t make much of a comeback in the first full week after Labor Day as issuers await a decision on interest rates at the Sept. 16 and 17 Federal Open Market Committee meeting.

Puerto Rico Gov. Alejandro García Padilla explains why he is asking for concessions from Puerto Rico’s creditors.

SEC enforcement officials want muni market participants to know that they have 30 people, mostly staff attorneys, in eight offices around the country who have significant expertise in muni issues.

Prices of top-quality municipal bonds were steady at mid-session, according to traders, who were eying next week’s new issue supply, which is estimated at $4.21 billion.

The Internal Revenue Service’s tax-exempt bond office expects to close about 120 voluntary closing agreements in fiscal 2015 – a figure that would be more than double the 51 closed the previous year, an IRS official said.

It remains to be seen whether the Puerto Rico Fiscal and Economic Growth Plan will persuade investors to work with the government as it restructures about $72 billion of debt.

Securities and Exchange Commission officials rejected bond lawyers’ suggestions that the settlements with 36 underwriters under the Municipalities Continuing Disclosure Cooperation initiative contained specific parameters of continuing disclosure violations.

It’s about the economy, Rhode Island Gov. Gina Raimondo says in an interview.

The Puerto Rico Fiscal and Economic Growth Plan (FEGP) is another indication the commonwealth plans to broadly restructure its debt, and all of its credits are at risk of restructuring, according to Fitch Ratings.

The University of Michigan's preliminary September consumer sentiment index reading was 85.7, compared to the final August 91.9, and the preliminary August 92.9, according to market sources.

Scranton, Pa., has chosen a National Development Council bidding team to operate its parking assets under a P3 that could improve the city’s reputation in the bond markets.

Muni traders will be closely eying next week’s new issue supply, which seems set to surpass this week’s rather thin calendar.

The Affordable Care Act is helping lift the non-profit health care sector out of its years-long torpor, according to Standard & Poor’s, which revised its outlook on the sector to stable from negative.

Sep. 11, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.23 1.46 2.32 3.27 California Aa3/A/A 0.25 1.53 2.51 3.51 Hawaii Aa2/AA/AA 0.25 1.51 2.41 3.37 Idaho Aa1/AA+/AA+ 0.23 1.5 2.4 3.36 Montana Aa1/AA/AA+ 0.23 1.49 2.41 3.38 Nevada Aa2/AA/AA+ 0.29 1.58 2.46 3.45 Oregon Aa1/AA+/AA+ 0.23 1.45 2.31 3.27 Washington Aa1/AA+/AA+ 0.26 1.52 2.45 3.44 Wyoming NR/AAA/NR 0.23 1.48 2.32 3.27

9/10/2015 9/3/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 1 $55,710 1 $55,710 $0 California 8 169,100 13 414,740 -245,640 Hawaii 3 185,470 0 0 185,470 Idaho 0 0 0 0 0 Montana 1 64,400 0 0 64,400 Nevada 0 0 0 0 0 Oregon 1 71,070 2 133,595 -62,525 Washington 9 1,002,295 9 1,050,410 -48,115 Wyoming 0 0 0 0 0

Monday, September 14 Issuer St Description Amount