News and Information from Bond Buyer

A Republican congressman said Tuesday he is concerned that the Securities and Exchange Commission's approach to municipal market enforcement risks creating an environment where only big players will get a seat at the table.

Mayors will unleash a coast-to-coast political push for a significant increase in federal transportation funding.

Pension liabilities and their associated budget pressures remain significant sources of credit pressure for many states, Standard & Poor’s said in a report released Tuesday.

Moody's Investors Service said it has downgraded to A3 from A2 Harris County Municipal Utility District #158, Texas' underlying general obligation rating.

Zion, Ill. Park District lost its investment grade rating and faces further credit deterioration as its struggles with a rapidly declining tax base.

Fitch Ratings upgraded bonds issued by the California Department of Water Resources after a state of emergency was declared in 2001 to deal with soaring energy prices.

Michigan Gov. Rick Snyder is touring the state urging voters to approve a May referendum to raise the state sales tax to generate new money for roads, saying it’s key to the state’s continued rebound.

The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1/2% coupon at a 0.598% yield, a price of 99.805456.

The Ohio State University wants a private firm to take over its energy system for 50 years in exchange for an upfront cash payment, marking another first for a public university.

Tobacco bonds may be on their way to the biggest volume since 2007, led by Wednesday's $1.7 billion sale from California, as issuers refinance amid a decline in smoking that's cut deeply into revenue.

The board of New York's MTA will vote on the sale of nearly $56 million in unused development rights in Queens after its finance committee approved it.

Standard & Poor's Ratings Services said it lowered its long-term rating to BBB-minus from BBB on the Wisconsin Health and Educational Facilities Authority's series 2006 revenue bonds issued for Divine Savior Healthcare Inc.

Standard & Poor's Ratings Services said it raised its long-term rating to BBB-minus from BB-plus on the Danbury Higher Education Authority, Texas' education bonds issued for Golden Rule School Inc.

Standard & Poor's Ratings Services said it does not view current efforts to define certain bonds as secured by "statutory liens" as a game changer for local government credit ratings.

Standard & Poor's Ratings Services said it is closely monitoring the reaction of the Chicago Board of Education (CBOE; A-minus/Negative) to possible swap termination payments in excess of $200 million following the downgrade of its general obligation debt to below BBB by another rating agency.

The big California tobacco bond deal was priced for retail investors in the primary market on Tuesday as prices of top-rated municipal bonds remained unchanged in the secondary.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.020% high yield, a price of 99.998444.

Brian White, chief executive of the $10.4 billion San Diego County Employees Retirement Association, has resigned effective March 30.

Indicator Last Report Forecast Actual CPI Jan.: -0.7% Feb.: +0.2% Feb.: +0.2% CPI Core Jan.: +0.2% Feb.: +0.1% Feb.: +0.2% New Home Sales Jan.: 500,000 Feb.: 470,000 Feb.: 539,000

The region's non-manufacturing sector climbed in March, as the general business conditions index climbed to 48.8 from 46.9 in February, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.