News and Information from Bond Buyer

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

Wednesday, July 1 Issuer St Description Amount

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Week Of June 29 Issuer St Description Amount

Week Of June 29 Issuer St Description Amount

CALIFORNIA

Chicago Public Schools intends to make a $634 million pension payment due by the end of June 30, House Speaker Michael Madigan said.

Issuers from Illinois, Wisconsin and Michigan compared notes on market challenges at the Bond Buyer's Midwest conference; Illinois credits face the toughest sledding.

Puerto Rico faces a fight from one of its biggest bondholders as it seeks to reduce debt service payments for several years.

Government

The Municipal Securities Rulemaking Board is giving 529 college savings plan underwriters a 60-day extension on the first date data submissions are due under a recently adopted rule.

Puerto Rico's insolvency is a game changer that will have a deep and far-reaching impact on the market, municipal professionals said Tuesday at a Bond Buyer conference in Chicago.

Municipal bonds closed out the session unchanged on Tuesday, traders said, as the rest of the week's paltry new issue supply came to market.

Long-term muni bond issuance declined 3.9% year-over-year to $34.39 billion in June, as refundings to take advantage of lower interest rates slowed.

Single-A rated Chapman University's $130 million of unsecured general obligation bonds will seek bond investors flush with cash from July 1 interest payments.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating on Addicks Utility District, Texas' general obligation debt to BBB-plus from BBB.

Standard & Poor's Ratings Services said it lowered its long-term rating and underlying rating to CCC-minus from CCC-plus on the University of Puerto Rico's existing university system revenue bonds.

Standard & Poor's Ratings Services said it lowered its underlying rating on Wichita Falls, Texas' water and sanitary sewer system priority-lien revenue debt two notches to A from AA-minus.

Standard & Poor's Ratings Services raised its long-term rating to BBB-plus from BBB on Harris County Water Control & Improvement District (WCID) No. 84, Texas' general obligation debt.

Gasoline taxes go up July 1 in six states to fund local highway projects while federal gasoline tax remains at 1993 level.