News and Information from Bond Buyer

MBIA Inc.'s net income for the fourth quarter of 2014 decreased from a year earlier as the insurance company completed its first full year of positive earnings since the financial crisis.

Minnesota's latest revenue forecast added another $800 million to a projected surplus, more than doubling the extra revenue expected in the next biennium.

The demise of Doral Bank in Puerto Rico may lead to a default on more than $34 million in municipal bonds and notes.

Bankers at the National Municipal Bond Summit said they believe new bond issuance will increase, especially in the high-yield senior living and charter school sectors.

Standard & Poor's revised its outlook to positive on Moberly, Missouri’s B issuer credit rating in the city's first good rating news since the sucralose factory debacle that cost it investment-grade ratings.

A Feb. 24 proposal from New Jersey Pension and Health Benefit Study Commission provides a "roadmap" to address high costs associated with the state's retiree benefit programs, according to Build America Mutual.

Prices of top-rated municipal bonds on were lower by the end of day Monday, according to traders. With new supply volume close to $9 billion this week, there were only some smaller deals in the market on Monday. Tuesday is when the real action will start and traders believe that “yields will be relatively attractive for buyers and that will help get the deals done.”

The Massachusetts Development Finance Agency issued $95.5 million tax-exempt bonds for six Boston affordable housing development projects.

Two northwest Indiana counties will nail down the final details of their tax-exempt bond-financed bid for the bankrupt Indiana Toll Road over the next two weeks.

The National Association of Bond Lawyers is asking the Internal Revenue Service to modify or withdraw a memorandum about defeasances of Build America Bonds.

New York City plans to price $1 billion of general obligation bonds this month, including an $800 million refunding.

Dallas will bring one of its largest refunding deals to market with $579 million of water and sewer bonds that carry ratings near the top of the scale.

New Pennsylvania Gov. Tom Wolf removed the Philadelphia School Reform Commission chairman and replaced him with career educator Marjorie Neff.

A reduced capital plan for 2015 to 2019 could affect expansion projects such as the Second Avenue subway line, New York MTA chairman Thomas Prendergast told lawmakers in Albany.

Alaska plans to issue $163 million of bond anticipation notes and $95 million of general obligation bonds later this month.

Moody's Investors Service said it has upgraded the general obligation rating of Lancaster County School District 145 (Waverly), Neb., to Aa3 from A1.

Standard & Poor's raised several Stockton, Calif. water system bond ratings

Standard & Poor's Ratings Services said it raised its long-term and underlying ratings on Unified School District Johnson County No. 231 (Gardner-Edgerton), Kan.'s existing general obligation debt to AA-minus from A-plus.

A rise in claims from playground injuries has cost New York City taxpayers more than $20 million, said city Comptroller Scott Stringer.

Standard & Poor's Ratings Services said it raised its issuer credit rating to A-minus from BBB-plus on Johnson County, Mo.