News and Information from Bond Buyer

Assured Guaranty and National Public Finance Guarantee could both withstand defaults on Puerto Rico debt with no change to their capital adequacy, S&P said in reports this week.

North Carolina joined several states this week entering extended legislative sessions to finish work on budgets for fiscal 2016, which began July 1.

Pennsylvania Gov. Tom Wolf vetoed the $30 billion fiscal 2016 budget lawmakers had passed, saying it ignored such core issues as structural imbalance, school funding and rising property taxes.

Prices of top-rated municipal bonds were weaker at mid-session, according to traders, with yields on some maturities up by as much as five basis points.

Standard & Poor's Ratings Services said it raised its rating on Beeville Water Supply District, Texas' existing general obligation debt one notch to A-plus from A.

Standard & Poor's Ratings Services said it lowered its long-term rating to BB-plus from BBB on the California Statewide Communities Development Authority's $574 million series 2014A, $123 million series 2014B, and $13 million series 2014C revenue bonds, issued for Loma Linda University Medical Center (LLUMC).

Standard & Poor's Ratings Services said it raised its long-term rating to AA from AA-minus on Selma, Texas' general obligation debt outstanding.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA from AA-minus on Dallas Independent School District, Texas' existing general obligation debt.

Pennsylvania Auditor General Eugene DePasquale called for a series of funding and transparency measures to tackle local pension underfunding.

Orrick, Herrington & Sutcliffe LLP attorneys take a look at the Securities and Exchange Commission settlements with 36 municipal securities underwriters pursuant to the Municipalities Continuing Disclosure Cooperation initiative.

Indicator Last Report Forecast Actual ADP Employment Report May: 203,000 June: 217,000 June: 237,000 Construction Spending April: +2.1% May: +0.6% May: +0.8% ISM Manufacturing PMI May: 52.8 June: 53.1 June: 53.5

The Puerto Rico Electric Power Authority announced Wednesday morning that it was making the full $416 million bond payment due Wednesday.

The Illinois General Assembly's Democratic majority will press ahead Wednesday with a vote on a $2.26 billion, one-month budget to fund essential services as the new fiscal year dawns with no end to a budget stalemate in sight.

About 5,300,700 online job postings appeared on leading Internet job boards in June, a decrease of 144,300 from May, the Conference Board reported Wednesday.

The overall economy grew for the seventy-third straight time, while the manufacturing sector expanded for the thirtieth consecutive month, the Institute for Supply Management reported Wednesday.

Construction spending increased 0.8% in May, the Commerce Department said Monday, and is 8.2% above the May 2014 level.

Chicago and school officials plan Wednesday to lay out a comprehensive, long-term plan to address the pension and funding inequities for Illinois' schools.

The municipal bond market on Wednesday was digesting the supply that priced in the previous two sessions.

Private-sector employment increased by 237,000 in June, on a seasonally adjusted basis, ADP reported Wednesday.

Wednesday, July 1 Issuer St Description Amount