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An overhaul of Puerto Rico's taxes different from the governor's proposal is moving towards adoption, observers say.

Prices of top-rated municipal bonds finished lower on Tuesday, according to traders, with yields on some maturities closing up by one basis point. Meanwhile in the primary, several new offerings came to market, the first of the week's new issue slate to hit the screens.

The Securities Industry and Financial Markets Association announced that it has developed model sophisticated municipal market professional, or SMMP, documentation to allow firms to comply with muni rules when dealing with investors who need less regulatory protection.

Minnesota Gov. Mark Dayton unveiled an $842 million bond-financed capital budget, promoting it as a means to create thousands of jobs while improving the state's infrastructure and economy.

Indicator Last Report Forecast Actual Consumer Credit Jan.: +$10.8B Feb.: +$13.5B Feb.: +$15.5B

Consumer credit increased by $15.5 billion in February to $3.343 trillion, the Federal Reserve reported Tuesday.

Moody's Investors Service said it downgrades Lake County School District #38 (Big Hollow), Ill.'s general obligation rating to Baa3 from A2.

Washington's Multicare Health System received AA-minus ratings with a stable outlook from two rating agencies ahead of plans to price $88 million of new money and a $274 million refunding bonds.

Moody's Investors Service analysts Tim Blake and Tom Aaron will be addressing past and current challenges related to U.S. pensions at the April 9 meeting of the Philadelphia Area Municipal Analyst Society.

Moody's Investors Service said it has downgraded DuPage County School District 12's (Roselle, Ill.) general obligation rating to A2 from A1, and assigned a negative outlook.

The Department of Transportation is soliciting applications from public entities for $500 million of grants to help finance transportation projects across the country and will hold the first of four webinars on the application process on Wednesday.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 3/4% coupon at a 0.865% yield, a price of 99.660163.

Daytona Beach, Fla.-based Halifax Hospital plans to issue about $112 million of revenue refunding bonds boosted by two rating upgrades.

Citing worsening financial performance amid continuing drought, Moody's Investors Service lowered Wichita Falls, Texas's water and sewer debt two notches to A3 and retained a negative outlook.

Pennsylvania Gov. Tom Wolf will nominate Timothy Reese to succeed the disgraced Rob McCord as state treasurer, the governor's office said Tuesday.

Moody's Investors Service placed Beaumont Independent School District's underlying Baa1 rating on review for a possible downgrade, affecting $158.5 million of outstanding debt.