News and Information from Bond Buyer

The Securities and Exchange Commission has asked for an extension to decide whether to approve the Municipal Securities Rulemaking Board's proposed Rule G-42 on the core duties of municipal advisors.

Municipal volume is estimated to drop to $5 billion for the week of Aug. 10, with only 11 negotiated deals and no competitive sales larger than $100 million on the calendar.

Detroit emerged from bankruptcy poised to rebuild through major infrastructure projects, former emergency manager Kevyn Orr said in Boston.

Louisiana dodged a rating downgrade ahead of an upcoming bond sale amid ongoing concern over the state budget's structural imbalance.

Consumer credit increased by $20.7 billion in June to $3.422 trillion, the Federal Reserve reported Tuesday.

Moody's Investors Service said it has downgraded to Baa1 from A2 the underlying rating on Leslie Public Schools, Mich.'s general obligation unlimited tax debt.

The Rhode Island Commerce Corp. agrees to a $12.5 million proposed settlement with four defendants related to the 38 Studios fiasco.

Standard & Poor's Ratings Services said it raised its long-term rating to AA-plus from AA on Beverly Hills Unified School District, Calif.'s general obligation.

Fast-growing Texas county forms special planning commission in an effort to block the route of a proposed high-speed rail line.

Standard & Poor's, in a special comment, said it wants to see how serious Chicago is about fixing its structural budget deficit.

Moody's Investors Service said it has downgraded to A2 from A1 the underlying rating on Reeths-Puffer Schools, Mich.

Moody's Investors Service upgraded Manhattan Beach Unified School District's general obligation bonds to Aa1 from Aa2 affecting $151.2 million in debt.

Transparent carrot-and-stick bond rating criteria for issuers could help advance projects to boost resilience from climate change and weather, advocates say.

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

Standard & Poor's Ratings Services said it lowered its rating on the Suffolk County Industrial Development Agency, N.Y.'s series 1996 and the Brookhaven Industrial Development Agency's series 2002 revenue bonds issued for Dowling College, to D from B.

Standard & Poor's said it would wait to see the terms of Wayne County's consent agreement with the state before taking action on the junk-rated county.

Detroit's bankruptcy and Puerto Rico's default are similar to New York City's mid-1970s crisis, public finance veteran Richard Ravitch says.

Illinois Gov. Bruce Rauner is escalating pressure on Chicago Mayor Rahm Emanuel to help pass his agenda by offering up a sweeping fiscal fix for the Chicago Public Schools' pension woes.