News and Information from Bond Buyer

The New Jersey Economic Development Authority (NJEDA) is selling $2.2 billion in bonds next week marking the largest deal in the municipal market so far in 2015.

Prices of top-quality municipal bonds closed stronger on Friday, traders said, with yields on some maturities falling as much as three basis points. The market was digesting the week’s supply, which totaled $5.33 billion. But that total didn’t include the one deal the market had wanted to see the most – the Puerto Rico Aqueduct and Sewer Authority’s $750 million senior lien revenue bond sale.

California general obligation bonds were trading like double-A credits ahead of the state’s planned $1.9 billion GO sale, according to the Municipal Market Data scale.

Hillview, Ky, filed for Chapter 9 bankruptcy on Thursday listing its largest debt as an $11.4 million judgment for breach of contract; it also has $3.2 million of bond debt.

Missouri will begin tapping about $300 million in borrowing authority when its sells $60 million of high-grade special obligation bonds Tuesday for renovations to the state capitol and other state and university building projects.

Fitch Ratings said it has upgraded to AA-minus from A the state of Florida Department of Environmental Protection's (DEP) $216.225 million Everglades Restoration revenue bonds and the $1.155 billion DEP Florida Forever revenue bonds.

Two Maryland counties have committed another $60 million to help fund the proposed $2 billion Purple Line P3 light-rail project.

Weekly volume is estimated to vault to $8.5 billion the week of Aug. 24 as mammoth sales from the New Jersey Economic Development Authority and the state of California sit atop the weekly slate, while a $750 million deal from the Puerto Rico Aqueduct and Sewer Authority looms on the day-to-day calendar.

Puerto Rico’s economy gained about 2,700 jobs in July from June, according to the Bureau of Labor Statistics.

Southeastern Pennsylvania Transportation Authority General Manager Joseph M. Casey is retiring after seven years leading the nation’s sixth-largest public transit agency.

Standard & Poor's affirmed its AAA rating of California Department of Water Resources water system revenue bonds for the Central Valley Project ahead of a $109 million deal it expects to price Aug. 25.

Prices of top-quality municipal bonds were higher at mid-session, traders said, with yields on some maturities falling by as much as two basis points.

Moody's Investors Service said it has upgraded the general obligation bond rating on Encinitas Union School District, Calif., to Aa1 from Aa2 in conjunction with the issuance of $14 million general obligation bonds election of 2010, Series 2015.

While accommodative monetary policy can promote economic activity it may slow productivity growth by allowing unproductive firms to survive, according to the latest issue of the Federal Reserve Bank of Kansas City's Macro Bulletin.

The municipal bond tax exemption could be at risk under a proposal from presidential candidate Hillary Clinton to reduce student debt.

The political bickering that litters the New York-area transportation funding landscape raises doubts about big projects such as the LaGuardian Airport renovation and Hudson River train tunnels.

The municipal bond market on Friday is looking ahead of next week's new issue calendar, which is topped off by big sales in New Jersey and California.

Monday, August 24 Issuer St Description Amount

Monday, August 24 Issuer St Description Amount