News and Information from Bond Buyer

For the week ended March. 5, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, moved up two basis points to 4.27% from 4.25% the previous week.

Standard & Poor's has revised its outlook to positive on University of Central Missouri's A rating.

Standard & Poor’s upgraded Johnson County, Mo. To A-minus.

Prices of top-rated municipal bonds finished slightly weaker on Thursday, traders said, with yields on some maturities rising by a basis point. Meanwhile, the Los Angeles Department of Water and Power, Calif., came to market with $508 million of power system revenue bonds.

A bill that dedicates about $2.5 billion from vehicle sales taxes to non-toll highway projects is the first to win state Senate approval in the 2015 Texas Legislature.

BlackRock, Inc. is expanding its iShares Exchange Traded Fund business with a municipal bond fund.

Moody's Investors Service said it has downgraded to Baa2 from Baa1 the rating on the city of Two Rivers, Wis.'s general obligation debt.

Newly issued Treasury securities held in stripped form decreased about $1.891 billion in February to a total of $210.120 billion, the Bureau of the Public Debt reported Thursday.

Arizona Gov. Doug Ducey and Republican legislative leaders have reached agreement on a $9.1 billion budget that cuts higher education spending by 14% and delays plans to build a private prison.

A bill designed to ease Detroit's first appearance in the public debt market since its bankruptcy sailed through a Michigan legislative committee and could come before the Senate next week.

The Securities and Exchange Commission's enforcement division is contacting dealers who reported their own possible violations of securities laws under a voluntary enforcement program initiated last year, giving them two weeks to decide if they still want to take advantage of the lenient settlement terms.

Ferguson police engaged in unlawful and discriminatory practices partially driven by the city's reliance on court fine revenue to support its budget, according to a stinging report by the federal government prompted by the fatal shooting of Michael Brown.

California achieved the lowest interest rate in 26 years when it priced $1.935 billion of general obligation bonds March 4, according to State Treasurer John Chiang.

The House passes a four-year Amtrak funding bill that requires a study of high-speed passenger rail from Washington, D.C., to Boston.

Standard & Poor's lowered its ratings on Sweet Briar College's bonds to B-minus from BBB due to a recent decision to close the central Virginia woman's college.

Massachusetts Gov. Charlie Baker's proposed $38 billion budget projects $1.6 billion savings in Medicare expenses and establishes an MBTA weather resiliency fund.

The University of California Regents are pricing $2.8 billion of combined new money and refunding bonds where municipal bond market observers predict ready demand.

Prices of top-rated municipal bonds were mixed at mid-session, traders said, with yields unchanged to up as much as a basis point on the long end.

Standard & Poor's Ratings Services said it raised its long-term rating on Kalamazoo County, Mich.'s general obligation bonds to AA-plus from AA.

The Treasury Department said Thursday it will auction $26 billion 91-day bills and $26 billion 182-day discount bills Monday.