News and Information from Bond Buyer

Standard & Poor's Ratings Services said it lowered its underlying rating for credit program to A from A-plus on Bemidji Independent School District No. 31, Minn.'s general obligation bonds.

With more than one-third of New York's bridges listed in need of repair, U.S. Sen. Kirsten Gillibrand,D-N.Y., is proposing a bill that would allow states the authority to use more federal funds for local bridge improvement projects.

Moody’s Investors Service revised its outlook to negative from stable on Aaa-rated Indianapolis, saying the city faces a structural imbalance and it’s uncertain whether leaders will be willing to raise revenue or impose cuts.

Michelle Aguirre was named Orange County, Calif.'s chief financial officer replacing Frank Kim, who was promoted to county executive officer in May.

As Mayor of Corning, N.Y., Tom Reed saw how capital could be raised for road, water and sewer improvements through the issuance of tax-exempt bonds.

Moody's Investors Service said it has downgraded to Baa3 from Baa2 the underlying rating on Walnut Township Local School District, Ohio's outstanding general obligation unlimited tax and maintains the negative outlook.

Moody's says that hospitals in Medicaid expansion states saw big drops in bad debt and that furthermore, providers across the entire sector saw improved financials in fiscal 2014.

The Port Authority of New York and New Jersey has launched a dashboard on its website providing quarterly updates on all active capital projects.

Standard & Poor's Ratings Services said it raised to AA from AA-minus its rating on Hendersonville Utility District, Tenn.'s parity revenue bonds.

Pennsylvania's local pension problems extend well beyond poster-child Scranton, said state Auditor General Eugene DePasquale.

Prices of top-rated municipal bonds were lower at mid-session, traders said, as yields rose for the third straight trading session.

Agents representing Pennsylvania’s Attorney General Kathleen Kane’s office raided the Harrisburg home of its former mayor, Stephen Reed.

Indicator Last Report Forecast Actual ADP Employment Report April: +165,000 May: +200,000 May: +201,000 International Trade March: -$50.6B April: -$44.0B April: -$40.9B ISM Non-Manufacturing April: 57.8 May: 57.0 May: 55.7

About 5,445,000 online job postings appeared on leading Internet job boards in May, an increase of 83,100 from April, the Conference Board reported Wednesday.

The U.S. services sector expanded at a slower pace in May as the non-manufacturing business activity composite index was 55.7 in the month, compared to 57.8 in April, on a seasonally adjusted basis, the Institute for Supply Management reported Wednesday.

The city of Chicago makes its return to the market on Wednesday in the next stage of its effort to shed billions of dollars of bank credit risk.

Private-sector employment increased by 201,000 in May, on a seasonally adjusted basis, ADP reported Wednesday.

The European Central Bank announced its Governing Council held interest rates at its latest monetary policy meeting Wednesday.

Illinois Gov. Bruce Rauner is halting some tax credits and suspending the Illiana Corridor toll road project to achieve savings in the absence of a fiscal 2016 budget agreement

In a continuing trend, Kansas revenues fell $5.8 million below projections in May, the penultimate month of the fiscal year.