News and Information from Bond Buyer

With the possibility of Chapter 9 hanging over Detroit Public Schools, investors holding Detroit schools debt may want to consider selling, says Municipal Market Analytics.

Prices of top-rated municipal bonds were weaker at mid-session, traders said, with yields on some longer-dated maturities up by as much as three basis points.

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.245% high yield, a price of 99.752278.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a zero high yield, a price of par.

Standard & Poor's Ratings Services said it raised its underlying rating to AA-minus from A-plus on King County School District No. 410 (Snoqualmie Valley), Wash.'s existing general obligation bonds outstanding.

Standard & Poor's Ratings Services said it has lowered its underlying rating on Venus Independent School District, Texas' existing general obligation rated debt to A from A-plus.

Variable rate debt represents 8% of the bond portfolio of New York's Metropolitan Transportation Authority — well below its 25% threshold, said finance manager Patrick McCoy.

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

The Athens-Clarke County Unified Government in Georgia won two rating upgrades ahead of pricing $208 million of water and sewerage revenue bonds.

Indicator Last Report Forecast Actual Consumer Confidence March: 101.4 April: 102.5 April: 95.2

Texas service sector activity "increased in April," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index grew to 14.6 from 10.7.

This week, we chart the most recent State economic data from the Philly Fed, respond to a reader inquiry regarding our previous discussion of SLGS, and highlight a little noticed piece of Puerto Rico news from last week.

Service sector activity "varied in April," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "remained soft in April," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index narrowed to negative 3 in April from negative 8 in March.

The consumer confidence index fell to 95.2 in April from a revised 101.4 last month, The Conference Board reported Tuesday.

A $967 million federal loan for commuter rail safety technology represents "a very favorable position for the MTA," said finance manager Patrick McCoy.

The municipal bond market is bracing for the bulk of the week's new issues. While volume is down for the week, the majority of the upcoming bond sales will come to market on Tuesday.

Apr. 28, 2015 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.27 1.43 2.3 3.22 Arkansas Aa1/AA/NR 0.2 1.3 2.09 3 Colorado Aa1/AA/NR 0.22 1.36 2.18 3.12 Kansas Aa1/AA+/NR 0.2 1.34 2.17 3.08 New Mexico Aaa/AA+/NR 0.2 1.31 2.09 3.01 Oklahoma Aa2/AA+/AA+ 0.24 1.38 2.2 3.12 Texas Aaa/AAA/AAA 0.23 1.35 2.16 3.08 Utah Aaa/AAA/AAA 0.2 1.24 2 2.9

4/27/2015 4/20/2015 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 4 $65,455 5 $449,860 -$384,405 Arkansas 3 14,465 3 17,285 -2,820 Colorado 0 0 3 86,565 -86,565 Kansas 5 19,655 2 9,390 10,265 New Mexico 0 0 3 11,300 -11,300 Oklahoma 35 91,465 25 77,970 13,495 Texas 35 783,433 56 1,356,585 -573,152 Utah 2 55,470 2 110,420 -54,950

Tuesday, April 28 Issuer St Description Amount