News and Information from Bond Buyer

Standard & Poor’s, citing Pennsylvania’s budget impasse, placed all school district and community college ratings based on the state aid intercept program on credit watch negative.

California’s successful water conservation efforts are a credit positive for the state’s water utilities, says Moody’s Investors Service.

Missouri Gov. Jay Nixon said a $1 billion proposed football stadium in St. Louis would not need legislative or voter approval because it would be an economic development project.

New York State and Local Retirement System (NYSLRS) employer contribution rates will decrease for the 2017 fiscal year, State Comptroller Thomas DiNapoli announced on Sept. 4.

With upgrades from two rating agencies, the North Texas Tollway Authority expects another reduction in its debt service costs with $744 million of refunding bonds, according to chief financial officer Horatio Porter.

Detroit water and sewer bonds won an upgrade from Fitch Ratings amid improving operations.

The Internal Revenue Service is working on more specialized template voluntary closing agreements, an official with the IRS' tax-exempt bond office said.

Immediate threats to Pennsylvania bondholders are minimal despite a two-month state budget stalemate, said Moody’s Investors Service.

One of the newest entrants in the Texas charter school movement did not wait to qualify for the state's triple-A PSF guarantee, selling $111 million of unrated bonds to buy six campuses.

Prices of top-shelf municipal bonds were mixed to stronger at mid-session, according to traders, as the market went into holiday mode after the release of the August employment report.

The municipal bond market was set to move into full holiday mode after the release of the August employment report..

U.S. inflationary pressures were up in August, as the U.S. future inflation gauge grew to 101.9 from an unrevised July 101.2 reading, according to data released Friday morning by the Economic Cycle Research Institute.

Fitch Ratings said it upgraded the following city of Detroit and Michigan Finance Authority bonds issued for the Detroit Water and Sewerage Department (DWSD): $1.2 billion in senior lien water revenue bonds to BBB from BBB-minus; 585 million in second lien water revenue bonds to BBB-minus from BB-plus; $1.8 billion in senior lien sewer revenue bonds to BBB from BBB-minus; and $698 million in second lien sewer revenue bonds to BBB-minus from BB-plus.

Sep. 4, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.23 1.43 2.29 3.22 California Aa3/A/A 0.25 1.5 2.48 3.45 Hawaii Aa2/AA/AA 0.25 1.48 2.38 3.32 Idaho Aa1/AA+/AA+ 0.23 1.47 2.37 3.31 Montana Aa1/AA/AA+ 0.23 1.46 2.38 3.33 Nevada Aa2/AA/AA+ 0.29 1.55 2.43 3.4 Oregon Aa1/AA+/AA+ 0.23 1.42 2.28 3.22 Washington Aa1/AA+/AA+ 0.26 1.49 2.42 3.39 Wyoming NR/AAA/NR 0.23 1.45 2.29 3.22

9/3/2015 8/27/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 1 55710 1 55,710 $0 California 13 414740 10 452,435 -37,695 Hawaii 0 0 0 0 0 Idaho 0 0 0 0 0 Montana 0 0 0 0 0 Nevada 0 0 2 37,035 -37,035 Oregon 2 133595 0 0 133,595 Washington 9 1050410 9 1,050,410 0 Wyoming 0 0 0 0 0

Tuesday, September 8 Issuer St Description Amount

Friday, September 4 Issuer St Description Amount

Friday, September 4 Issuer St Description Amount

CALIFORNIA