News and Information from Bond Buyer

Week Of August 10 Issuer St Description Amount

Week Of August 10 Issuer St Description Amount

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The default by the Puerto Rico Public Finance Corporation is a credit negative for bond insurers MBIA Inc. and Assured Guaranty, who each have approximately $5 billion of exposure to the commonwealth, according to a report issued by Moody’s Investors Service.

Wisconsin’s new capital finance director David Erdman is a familiar name to the public finance community that does business with the state.

Prices of top-quality municipal bonds were weaker at mid-session, traders said, with yields on some maturities rising by as much as three basis points. Municipal bond market traders await the roughly $5 billion that is expected on the new issue calendar this week, which is headlined by the Kansas Development Finance Authority's $1 billion pension deal.

Chicago Public Schools released a proposed $6.4 billion fiscal 2016 budget that pockets more than $300 million from one-shots and gambles on the state coming through with nearly $500 million in pension.

The monthly cash report from the California controller's office shows that revenues fell just 0.2% short of expectations in July.

Portland, Ore., will execute its largest refunding in city history when it issues some $400 million of sewer system refunding bonds Aug. 18.

Standard & Poor's Ratings Services said it raised its underlying rating to AA-minus from A-plus on Pulaski County, Ark.'s series 2009 and 2010 insured fixed-rate hospital revenue bonds issued for Arkansas Children's Hospital.

Oregon motorists seem eager to sign up for the state's new miles-traveled road fee system but Connecticut lawmakers are not interested.

A taxpayer bill of rights passed by the North Carolina Senate Finance Committee could threaten the state’s coveted gilt-edged ratings, according to State Treasurer Janet Cowell, who said she opposes the newly surfaced legislation.

Standard & Poor's Ratings Services said it lowered its long-term rating to A-plus from AA-minus on Sheridan County School District No. 1, Wyo.'s existing general obligation bonds.

A $52.2 million bond refunding priced by Carson, Calif.'s former redevelopment agency on Aug. 6 will pay environmental remediation costs needed to convert a former landfill into a National Football League stadium.

Moody's Investors Service said it has upgraded to Aa3 from A2 the issuer rating assigned to the city of Dickson, Tenn.

"I think the time to begin normalizing monetary conditions is close," Federal Reserve Bank of Atlanta President and CEO Dennis Lockhart said Monday.

Standard & Poor's Ratings Services said it raised its rating to AA-minus from A-plus on Sumter, S.C.'s outstanding waterworks and sewer system improvement revenue bonds.

Long Island, N.Y., governments will benefit from a New York state appellate court decision to allow a lawsuit to prevent the Long Island Power Authority from challenging the assessment on its Northport, N.Y. power plant, according to Moody's Investors Service.