News and Information from Bond Buyer

After downgrades from all four rating agencies since May, Chicago Public Schools got a fresh warning from Moody’s on Monday that its new budget could mean more negative ratings action.

The Treasury Department said Monday it will sell $35 billion of four-week discount bills Tuesday.

Wisconsin takes competitive bids on $391 million of general obligation debt Tuesday with more than half earmarked for transportation projects.

Texas factory activity, as measured by the production index, "was essentially flat in August," according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released Monday.

The California treasurer's office estimates the state garnered $204.7 million of present value savings on its $1.93 billion combined new money/refunding general obligation sale.

Indicator Last Report Forecast Actual Chicago PMI July: 54.7 Aug.: 54.7 Aug.: 54.4

The Chicago Purchasing Managers' Business Barometer slid to 54.4 in August from 54.7 in July, the National Association of Purchasing Management-Chicago said Monday.

The seasonally adjusted Milwaukee Report on Business climbed to 47.7 in August from 47.1 in July, the Institute for Supply Management-Milwaukee reported Monday.

The Midwest Economy Index slipped to negative 0.12 in July from an upwardly revised neutral level in June, first reported as negative 0.02, the Federal Reserve Bank of Chicago said Monday.

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The former head of the Illinois State Toll Highway Authority has joined Chicago Treasurer Kurt Summer's office.

Municipal volume is forecast to plunge to the lowest in six months as end-of-summer holidays approach.

Government

Puerto Rico bondholders may get a clearer picture in the coming week of how they will fare under restructuring plans for $72 billion in debt.

A Los Angeles Committee's bid for the 2024 Olympic Games is a "conceptual overview with limited details of how the 2024 Games would be staged," according to city analysts' report.