News and Information from Bond Buyer

Top-rated municipal bond prices were unchanged at mid-session, traders said, as Treasuries reversed course and logged price gains.

The New Orleans Aviation Board plans to bring $590 million of general airport revenue bonds to market Thursday amid an above-average issuance calendar.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.015% high yield, a price of 99.998833.

A lawmaker from one of Texas' most heavily tolled counties has introduced legislation that would end tolls when bonds are paid off.

Moody's Investors Service said it has downgraded to A2 from A1 the rating on Omaha Convention Hotel Corporation, Neb.'s outstanding revenue debt.

Indicator Last Report Forecast Actual Consumer Confidence Jan.: 103.8 Feb.: 99.6 Feb.: 96.4

Texas service sector activity "continued to reflect expansion in February," according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index gained to 13.6 from 12.1.

The region's non-manufacturing sector climbed in February, as the general business conditions index surged to 46.9 from 8.8 in January, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Service sector activity "expanded at a moderate pace in February," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "activity slowed in February," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index slid to 0 in February from 6 in January.

The consumer confidence index slid to 96.4 in February from a revised 103.8 last month, The Conference Board reported Tuesday.

Public policy scholar Dall Forsythe will join the Municipal Securities Rulemaking Board as a public member to fill the vacancy created by the resignation of Robert Fippinger, who is becoming the MSRB's chief legal officer.

Moody's Investors Service said it has downgraded to Ba2 from Ba1 Yonkers Industrial Development Agency, N.Y.'s multi-family housing revenue bonds (Herriot Street Housing, L.P. Project) Series 2004. $11,860,000 of outstanding debt is affected.

Municipal market participants are awaiting Tuesday's Congressional testimony from Federal Reserve Chair Janet Yellen.

New York's Metropolitan Transportation Authority expects to issue $300 million of transportation bonds next month, said finance director Patrick McCoy.

Standard & Poor's Ratings Services raised its long-term rating and underlying rating to BBB-plus from BBB on the San Jose Redevelopment Agency, Calif.'s senior nonhousing tax allocation bonds.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to A-minus from BBB on Dearborn Heights Municipal Building Authority and Dearborn Heights Tax Increment Finance Authority, Mich.'s limited-tax general obligation bonds, issued for Dearborn Heights, due to the city's improved reserve level and improved management practices.

Buoyed by a strong fourth-quarter finish, 2014 municipal bond issuance in the Southwest region was 15% higher than 2013 at $64.7 billion, according to Thomson Reuters data.

ARKANSAS

2/23/2015 2/16/2015 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 3 $20,545 4 $314,410 -$293,865 Arkansas 2 9,170 2 26,170 -17,000 Colorado 0 0 0 0 0 Kansas 3 3,926 5 38,151 -34,225 New Mexico 3 113,620 8 291,846 -178,226 Oklahoma 12 26,965 10 90,325 -63,360 Texas 42 1,365,353 40 1,424,958 -59,605 Utah 4 108,025 5 114,025 -6,000