News and Information from Bond Buyer

A budget stalemate that drags past December could further compromise Pennsylvania's credit, says PNC Capital Markets’ Tom Kozlik.

Standard & Poor's Ratings Services said it lowered its long-term rating to BB-plus from BBB-minus on Universal Academy, Mich.'s series 2013 public school academy revenue bonds.

The municipal bond market on Thursday will be preparing to take on the last of the week's big new issues as traders keep one eye on world news and the other on Treasury yields.

Aug. 13, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.27 1.39 2.26 3.16 Florida Aa1/AAA/AAA 0.3 1.43 2.32 3.23 Georgia Aaa/AAA/AAA 0.27 1.34 2.18 3.05 Kentucky Aa2/AA+/AA+ 0.31 1.48 2.38 3.28 Louisiana Aa2/AA/AA 0.4 1.72 2.67 3.54 Mississippi Aa2/AA/AA+ 0.31 1.47 2.4 3.28 North Carolina Aaa/AAA/AAA 0.27 1.34 2.18 3.06 South Carolina Aaa/AA+/AAA 0.27 1.36 2.21 3.09 Tennessee Aaa/AA+/AAA 0.27 1.35 2.21 3.08 Virginia Aaa/AAA/AAA 0.26 1.33 2.17 3.05 West Virginia Aa1/AA/AA+ 0.3 1.4 2.31 3.21

8/12/2015 8/5/2015 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 3 $17,240 3 $11,190 6,050 Florida 8 524,115 5 120,615 403,500 Georgia 1 10,000 3 263,165 -253,165 Kentucky 0 0 3 9,595 -9,595 Louisiana 2 85,365 4 113,075 -27,710 Mississippi 3 106,295 0 0 106,295 North Carolina 2 500,740 1 42,585 458,155 South Carolina 3 24,855 1 19,570 5,285 Tennessee 1 2,000 1 2,000 0 Virginia 4 145,080 2 162,220 -17,140 West Virginia 0 0 0 0 0

Thursday, August 13 Issuer St Description Amount

Thursday, August 13 Issuer St Description Amount

Week Of August 10 Issuer St Description Amount

ARKANSAS

ALABAMA

Government

Kansas’ sale of $1 billion of pension bonds to reduce the funding gap will fall far short of soliving the state’s long-term problem, according to Moody’s Investors Service.

The Illinois House unanimously passed a bill that authorizes $5.2 billion in federal funds spending and allows the Metropolitan Pier and Exposition Authority to make debt payments, after Democrats abandoned efforts to tack general fund spending onto the measure.

Prices of top-quality municipal bonds finished mostly firmer on Wednesday, traders said, with yields unchanged to as much as one basis point stronger.

New Jersey’s long-stalled American Dream Meadowlands shopping and entertaining project received a funding boost on Aug. 11 when a state board re-approved $390 million in tax breaks for the massive development.

Roseville, Calif.'s water utility revenue certificates of participation won an upgrade from Standard & Poor's, which cited the system's ability to raise rates.

Texas sales tax revenues rebounded in July after taking the first dip in 62 months in June, state Comptroller Glenn Hegar reported.

Baltimore officials want Maryland to share savings from a cancelled rail project to upgrade the city's bus system.

Wisconsin took the first steps Wednesday toward putting together a team for about $200 million of borrowing planned for a new Milwaukee Bucks arena as Gov. Scott Walker signed into law the project’s public financing package.

Indicator Last Report Forecast Actual Treasury Budget June: +$50.5B July: -$131.0B July: -$149.2B