News and Information from Bond Buyer

The Treasury Department Wednesday sold $25 billion 21-day cash management bills, dated Sept. 10, due Oct. 1, at a 0.015% high tender rate.

The Treasury Department Wednesday auctioned $30 billion of four-week bills at a 0.005% high yield, a price of 99.999611.

Standard & Poor’s says its ratings for Pennsylvania, including AA-minus on general obligation bonds, are unchanged despite lack of a signed budget for fiscal 2016.

The municipal bond market on Wednesday was revving up and getting into gear for the start of the week’s new issuance calendar.

Standard & Poor's Ratings Services said it raised its long-term rating to A-plus from A on Pharr, Texas' general obligation bonds.

The Puerto Rico government's plan to pay as little as 12% of its debt from fiscal 2016 to 2021 is likely to face legal and political challenges, observers say.

The Internal Revenue Service is auditing $91 million of Build America Bonds issued by the Minnesota Public Facilities Authority in fall 2010.

Not only will a huge property tax hike to fund pensions be a tough sell in Chicago, it will only go part of the way toward solving the city’s fiscal problems, experts said.

Sep. 9, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.98 3.17 4.18 5.06 Indiana Aaa/AAA/AA+ 0.23 1.43 2.3 3.23 Iowa Aaa/AAA/AAA 0.23 1.44 2.3 3.23 Michigan Aa2/AA/AA 0.29 1.52 2.43 3.38 Minnesota Aa1/AA+/AA+ 0.24 1.41 2.24 3.15 Missouri Aaa/AAA/AAA 0.23 1.38 2.21 3.14 Nebraska NR/AAA/NR 0.23 1.45 2.35 3.31 North Dakota Aa1/AA+/NR 0.26 1.5 2.38 3.31 Ohio Aa1/AA+/AA+ 0.25 1.46 2.36 3.31 South Dakota NR/AA+/AA+ 0.27 1.49 2.38 3.33 Wisconsin Aa2/AA/AA 0.26 1.49 2.35 3.26

9/8/2015 9/1/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 12 $528,725 7 $38,010 $490,715 Indiana 4 21,810 6 197,655 ?175,845 Iowa 5 47,760 6 49,135 ?1,375 Michigan 10 125,880 12 148,530 ?22,650 Minnesota 15 86,345 16 116,520 ?30,175 Missouri 5 92,920 3 69,705 23,215 Nebraska 0 0 0 0 0 North Dakota 0 0 0 0 0 Ohio 2 99,935 3 108,790 ?8,855 South Dakota 0 0 0 0 0 Wisconsin 22 284,315 23 797,295 ?512,980

Wednesday, September 9 Issuer St Description Amount

Wednesday, September 9 Issuer St Description Amount

Week Of September 8 Issuer St Description Amount

Week Of September 8 Issuer St Description Amount

CONNECTICUT

Multiple New Jersey public sector unions have petitioned the U.S. Supreme Court to review a recent state Supreme Court ruling that allowed Gov. Chris Christie to cut pension funding.

The University of Hawaii Board of Regents plans a $189 million revenue bond sale Wednesday and Thursday.

Government

Dramatic enrollment declines at the long-troubled Detroit Public Schools prompted downgrades from Standard & Poor’s on a chunk of the district’s state-aid backed bonds.

The Oregon Facilities Authority is preparing to sell a cross-border deal when it issues $71.1 million of bonds for Providence Health & Services in Washington.