News and Information from Bond Buyer

Week Of April 13 Issuer St Description Amount

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Local governments have historically relied on selling bonds to finance operations. But low interest rates and the rising costs of taking bond issues public are making traditional loans a more tempting option.

Prices of top-rated municipal bonds were flat for a second session Monday, traders said, as the market prepared for this week’s estimated volume of almost $9 billion.

With a Standard & Poor's upgrade to AA-plus on its subordinated debt, Phoenix is looking for significant savings with a $391 million refunding of revenue bonds that include taxable and tax-exempt issues.

Underwriters and investors in billions of dollars in debt sold to finance the Prairie State coal-fired energy plant should come together to discuss relief for local municipalities burdened by the plant’s higher energy costs, according to an environmental group.

Standard & Poor's Ratings Services said it lowered its long term rating to AA from AA-plus on Plainview, Minn.'s, previously issued general obligation bonds.

Puerto Rico Electric Power Authority chief restructuring officer Lisa Donahue will testify before a Puerto Rico Senate committee Tuesday morning.

A struggling Cleveland suburb that is in a state of fiscal emergency wants the state to restore the $6.7 million in local government aid cuts.

Indicator Last Report Forecast Actual Treasury Budget Feb.: -$192.4B March: -$43.0B March: -$52.9B

The federal government ran a $52.9 billion budget deficit in March, the Treasury Department reported Monday.

Two years after defaulting on a bond payment, the school district of Pontiac, Mich. has stabilized under state oversight but could go broke by July without additional aid, according to Moody's Investors Service.

Market-based expectations can offer a great deal of data for policymakers, but they have limitations and can be difficult to interpret since prices are affected by factors other than those of interest to policymakers, according to a Federal Reserve Bank of San Francisco Economic Letter published Monday.

Prices of top-rated municipal bonds were steady at midday, traders said, as the municipal market prepares for this week's estimated volume of almost $9 billion.

The San Bernardino, Calif., firefighter’s union filed two lawsuits, living up to a promise to litigate issues over its contract with the city, which has been in Chapter 9 bankruptcy for three years.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.025% high rate, up from 0.020% the prior week, and the six-months incurred a 0.105% high rate, up from 0.095% the week before.

The Bond Dealers of America is stepping up its educational efforts on regulation and electronic trading as well as trying to increase its connections on Capitol Hill, said new BDA board chairman Steve Genyk.

The Treasury Department said Monday it will sell $30 billion of four-week discount bills Tuesday.