News and Information from Bond Buyer

The Chicago Board of Education approved resolutions authorizing $1.135 billion of short term tax anticipation note and warrant-backed borrowing to manage its precarious liquidity position.

Wayne County, Mich., is on track to sell $186.9 million of delinquent tax anticipation notes on Thursday. The note deal was postponed from last week after County Executive Warren Evans asked for state fiscal intervention to help it fix its financial problems.

Ipreo said it plans to allow investors to electronically submit Indications of Interest on fixed-income issuances directly into IssueNet, Ipreo’s syndicate-to-syndicate communications platform for the primary new-issue markets.

Thursday, June 25 Issuer St Description Amount

Thursday, June 25 Issuer St Description Amount

Week Of June 22 Issuer St Description Amount

Week Of June 22 Issuer St Description Amount

Indicator Last Report Forecast Actual GFP (F) Q1: -0.7% Q1: -0.2% Q1: -0.2% Final Sales Q1: -1.1% Q1: na Q1: -0.6% Core PCE Q1: +0.8% Q1: +0.8% Q1: +0.8% Building Permits April: 1.275M May: na May: na

Jun. 25, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.29 1.51 2.39 3.4 Florida Aa1/AAA/AAA 0.32 1.53 2.46 3.46 Georgia Aaa/AAA/AAA 0.29 1.46 2.32 3.29 Kentucky Aa2/AA+/AA+ 0.33 1.6 2.52 3.52 Louisiana Aa2/AA/AA 0.42 1.86 2.81 3.78 Mississippi Aa2/AA/AA+ 0.33 1.59 2.53 3.52 North Carolina Aaa/AAA/AAA 0.29 1.46 2.32 3.3 South Carolina Aaa/AA+/AAA 0.29 1.48 2.35 3.33 Tennessee Aaa/AA+/AAA 0.29 1.47 2.35 3.32 Virginia Aaa/AAA/AAA 0.28 1.45 2.31 3.29 West Virginia Aa1/AA/AA+ 0.33 1.55 2.45 3.45

CALIFORNIA

ARIZONA

6/24/2015 6/17/2015 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 1 $3,355 1 $3,355 0 Florida 10 1,283,695 10 1,449,595 -165,900 Georgia 2 49,050 0 0 49,050 Kentucky 3 123,885 9 321,225 -197,340 Louisiana 4 144,200 3 124,200 20,000 Mississippi 0 0 0 0 0 North Carolina 2 50,970 3 108,705 -57,735 South Carolina 3 43,995 3 222,610 -178,615 Tennessee 1 5,000 2 8,000 -3,000 Virginia 4 336,450 2 154,235 182,215 West Virginia 1 5,105 0 0 5,105

Government

Puerto Rico’s House of Representatives passed a balanced budget that may necessitate a restructuring of Government Development Bank debt.

While a state budget impasse otherwise shows no signs of easing, Illinois Gov. Bruce Rauner did sign off on education spending for the next fiscal year.

Standard & Poor’s has put Wayne County’s speculative grade rating on CreditWatch with negative implications following its request for state intervention.

Puerto Rico Gov. Alejandro García Padilla’s administration is pressing for Congress to stop focusing on the question of Puerto Rico’s statehood and instead shift its energy to giving the island territory access to Chapter 9 bankruptcy powers that exist in the states.

Prices of top-quality municipal bonds finished unchanged on Wednesday, traders said, as Stifel priced the city of Los Angeles' $1.4 billion of tax and revenue anticipation notes while Bank of America Merrill Lynch priced the state of Massachusetts’ $955 million of general obligation bonds for institutions.

The federal government extended All Aboard Florida’s $1.75 billion private activity bond allocation, relieving pressure on the private train owner to issue the bonds as legal challenges proceed.

The Chicago Public Schools’ efforts to ease a liquidity squeeze with a bill to delay a pension payment failed amid the ongoing clash between Gov. Bruce Rauner and House Speaker Michael Madigan.