News and Information from Bond Buyer

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

The federal government ran a $149.2 billion budget deficit in July, the Treasury Department reported Wednesday.

Markham, Ill., faces a possible further downgrade of its junk-rated debt unless it releases updated financial information by Aug. 24, Standard & Poor's said Monday.

Standard & Poor's Ratings Services said it raised its rating on Hoosic Valley Central School District, N.Y.'s general obligation debt one notch to AA-minus from A-plus.

The Treasury Department auctioned $24 billion of 10-year notes with a 2% coupon at a 2.115% high yield, a price of 98.968752.

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

Recent favorable market movement bodes well for Charlotte, N.C., to price $463 million of water and sewer refunding bonds Thursday.

University of North Carolina professor Pab Jotikasthira wins the James A. Lebenthal Memorial prize for best paper submitted at the Brandeis Municipal Finance Conference.

Lobbying efforts more than doubled in the second quarter of this year over pending legislation that would give Puerto Rico utilities and authorities access to Chapter 9 bankruptcy protection.

The market is set for the pricing of the biggest deal of the week — a $1 billion pension bond offering from the Kansas Development Finance Authority.

Monetary policy cannot offset skill mismatches that could hamper employment, according to Federal Reserve Bank of New York President William Dudley.

Kansas' $1 billion sale of pension obligation bonds will do little to solve the challenges surrounding Kansas' poorly funded state-administered pension plans, according to Moody's Investors Service.

Standard & Poor's Ratings Services said it raised its underlying rating to AA-minus from A-plus on Roseville, Calif.'s water utility revenue certificates of participation.

Standard & Poor's Ratings Services said it has corrected by reinstating its D rating on Puerto Rico Public Finance Corp.'s series 2012A bonds due Aug. 1, 2015.

Standard & Poor's Ratings Services said it raised its long-term rating to A from A-minus on Madera Irrigation District, Calif.'s water revenue refunding bonds.

Wednesday, August 12 Issuer St Description Amount

Wednesday, August 12 Issuer St Description Amount

Week Of August 10 Issuer St Description Amount

Aug. 12, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 1.02 3.15 4.17 4.94 Indiana Aaa/AAA/AA+ 0.27 1.41 2.35 3.23 Iowa Aaa/AAA/AAA 0.27 1.42 2.35 3.23 Michigan Aa2/AA/AA 0.33 1.49 2.48 3.38 Minnesota Aa1/AA+/AA+ 0.28 1.41 2.3 3.14 Missouri Aaa/AAA/AAA 0.27 1.36 2.26 3.14 Nebraska NR/AAA/NR 0.27 1.43 2.4 3.31 North Dakota Aa1/AA+/NR 0.3 1.48 2.43 3.31 Ohio Aa1/AA+/AA+ 0.29 1.43 2.41 3.31 South Dakota NR/AA+/AA+ 0.31 1.47 2.43 3.33 Wisconsin Aa2/AA/AA 0.3 1.46 2.4 3.31

8/11/2015 8/4/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 9 $95,915 7 $244,060 -148,145 Indiana 8 168,250 5 11,295 156,955 Iowa 6 26,995 6 65,635 -38,640 Michigan 7 203,450 11 157,430 46,020 Minnesota 17 189,890 19 1,278,615 -1,088,725 Missouri 4 88,645 3 44,740 43,905 Nebraska 0 0 0 0 0 North Dakota 2 17,930 3 21,930 -4,000 Ohio 7 175,725 18 377,395 -201,670 South Dakota 0 0 0 0 0 Wisconsin 26 172,317 27 165,542 6,775