News and Information from Bond Buyer

Government

Rep. Richard Neal and Sen. Edward Markey, both Massachusetts Democrats, introduced identical bills Thursday that would permanently revive the Build America Bond program with lower subsidy rates and prevent issuers from being hurt by sequestration.

The state of Georgia plans to price $1.3 billion of triple-A general obligation bonds on Tuesday, while Atlanta prices a $252 million GO offering on Wednesday.

Chicago made a quick return to the municipal bond market during the week, this time with a sales tax-backed bond offering a sweetener in the form of what the city called pledged revenues and increased bondholder protections.

The week of June 8 will see the muni market with the largest deals being of the competitive variety, not negotiated.

The Illinois Senate returns to work Tuesday for a discussion on the state’s property tax system with Gov. Bruce Rauner pushing for a local freeze as a condition to ending a budget stalemate.

Indiana will continue to suspend all work and contracts tied to the $1.5 billion Illiana Corridor toll road until the fate of the controversial project becomes clear in cash-strapped Illinois.

Moody's Investors Service downgrades to Ba2 from Baa3 $290 million Howard University revenue bonds, Series 2011 A and 2011 B issued by the District of Columbia.

Consumer credit increased by $20.54 billion in April to $3.385 trillion, the Federal Reserve reported Friday.

Moody's Investors Service said it has upgraded Hayward Community School District, Wis.'s general obligation rating to Aa2 from Aa3.

A recent ruling by the bankruptcy judge in San Bernardino’s Chapter 9 case, and the city’s bankruptcy exit plan, are credit negatives for San Bernardino's pension obligation bond investors, according to a Moody's report.

Moody’s Investors Services raised the San Francisco County Transportation Authority’s issuer rating to Aa1 from Aa2.

A federal appeals court denied the appeals of a trio of convicted bid-riggers Thursday in a ruling that could have lasting effects for future fraudsters.

Standard & Poor's Ratings Services said it raised its rating to BBB-plus from BBB on Montrose Recreation District, Colo.'s certificates of participation, series 2014.

Moody's Investors Service said it has upgraded the city of Woonsocket, R.I.'s general obligation bond underlying rating to B2 from B3, affecting $155.2 million of outstanding debt, including GO-secured debt issued through the Rhode Island Health and Education Building Corporation (RIHEBC).

Virginia will decide in November whether to proceed with $3 billion toll lane project as P3 or use conventional financing.

Municipal bond investors may soon give a jolt to the long-stalled American Dream retail and entertainment complex in New Jersey's Meadowlands; the former Xanadu project would feature the nation's first indoor ski slope.

Massachusetts Gov. Charlie Baker announced a five-year, $82.7 million resiliency plan for the MBTA after a winter that paralyzed the transit system.

Cook County's CFO said Moody's has been "more bearish" on the Chicago area than the other ratings agencies for years, and that he was disappointed but not surprised by the latest downgrade.