News and Information from Bond Buyer

Michael Bartolotta, formerly of First Southwest, has left that firm to join Citi in Houston.

Government

Fitch Ratings removed Wayne County, Michigan's speculative grade rating of B from its Rating Watch Negative in recognition of the city's improved fiscal prospects under a proposed state consent agreement.

Higher debt service coverage won Florida's environmental restoration bonds two rating upgrades ahead of a $46.5M competitive deal.

Chicago Mayor Rahm Emanuel will unveil his proposed 2016 budget Sept. 22, giving market participants a few days to digest his plan for stabilizing city finances before hosting investors on Sept. 25.

Prices of top-rated municipal bonds were unchanged to stronger on Monday, traders said, with yields on some maturities as much as five basis points lower at the close. In early trading, yields had been down by as much as seven basis points.

The U.S. Supreme Court is unlikely to take up the Commonwealth of Puerto Rico's recent request to consider a twice rejected law that would give Puerto Rican public entities debt relief similar to that under Chapter 9 bankruptcy, according to several bankruptcy experts.

Standard & Poor's Ratings Services said it lowered its long-term rating to B-minus from BB-minus on the Indiana Finance Authority's series 2009A and 2009B educational facilities revenue bonds, issued for Irvington Community Schools Inc.

Under a new law going into effect Sept. 1, Texas governments can no longer issuer certificates of obligation for a project if voters have rejected a bond proposal within the previous three years.

Diane Stanton began work Monday as executive director of the California Health Facilities Financing Authority, a conduit issuer for the state's non-profit hospitals, according to the treasurer's office.

Colorado may have to cut highway funding so it can issue tax refunds triggered by the state's TABOR law.

Investment banks interested in working on Wisconsin's financing for a new $500 million Milwaukee Bucks professional basketball arena have until Sept. 1 to submit their qualifications, as officials want to get the deal done by the end of the year.

Moody's Investors Service said it has upgraded Lincoln County, S.D.'s general obligation and issuer ratings to Aa2 from Aa3.

A Billings, Mont., school district's general obligation school building bond rating was affirmed at Aa3 by Moody's Investors Service ahead of a $32.9 million sale on Sept. 15.

Ongoing cuts to Build America Bond subsidies are "credit negative" for issuers, Moody's Investors Service said in its weekly credit outlook for U.S. public finance last week.

Seasonal adjustments to the gross domestic product data, some have recently suggested, may not be sufficient to give a true read of the economy, however, the inadequacies are unlikely to cause policymakers consternation or harm monetary policy, according to a Federal Reserve Bank of San Francisco Economic Letter released Monday.

Fitch Ratings said it affirmed and removed from Rating Watch Negative the B ratings on Wayne County, Mich.

Prices of top-rated municipal bonds strengthened with Treasuries through mid-session, traders said, with yields on some maturities weakening by as much as five basis points.

Legislation signed on Aug. 10 by New Jersey Gov. Chris Christie creating a statutory lien on appropriated state aid for bonds issued by the Municipal Qualified Bond Act is a credit positive for bondholders in the Garden State, according to Moody's Investors Service.

Standard & Poor's Ratings Services said it has lowered its underlying rating on Will County Community Unit School District No. 365-U (Valley View), Ill.'s general obligation bonds to AA-minus from AA.