News and Information from Bond Buyer

Municipal bond issuance volume in the Northeast was little changed in 2014, rising 1% from 2013 volume as issuers weighed low interest rates against their ongoing fiscal challenges.

The municipal bond market is looking ahead to the upcoming week, where a chunky new issue slate is being prepared.

Standard & Poor's Rating Services raised its long-term and underlying ratings on Terrebonne Parish, La.'s general obligation bonds to AA from AA-minus.

Stifel Financial Corp. reportedly is in talks to buy Sterne Agee Group Inc., continuing an acquisition spree that's vaulted the St. Louis based brokerage and investment banking firm into the top 10 among municipal underwriters.

Inflation projections for the coming year, measured by expected unit costs, held steady at 1.7%, according to the Federal Reserve Bank of Atlanta's monthly Business Inflation Expectations survey released Friday.

The municipal bond market is looking ahead to the upcoming week, where a chunky new issue slate is being prepared. Volume for next week is estimated at $8.807 billion, up from the revised $3.155 billion sold in this holiday-shortened week.

Annual benchmark revisions to the Consumer Price Index, (1982-84 equals 100) resulted in the December CPI headline number being revised to a 0.3% decline from the initially reported 0.4% drop, the Labor Department said Friday.

Moody's Investors Service said it has upgraded the city of Livingston, Texas' general obligation bond rating to A3 from Baa1.

Moody's Investors Service said it has upgraded Wasatch County, Utah's general obligation refunding bonds, Series 2010 to Aa2 from Aa3.

CONNECTICUT

Monday, February 23 Issuer St Description Amount

Monday, February 23 Issuer St Description Amount

Friday, February 20 Issuer St Description Amount

ARIZONA

Government

Moody's Investors Service has downgraded Puerto Rico's general obligation rating to Caa1 from B2 and downgraded a variety of other important Puerto Rico bonds.

For the week ended Feb. 19, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, jumped five basis points to 4.26% from 4.21%.

Litigants appealing Jefferson County's bankruptcy case want Alabama Gov. Robert Bentley and Attorney General Luther Strange to join their appeal.

California should create a grant program supported by the state's general fund to pay for school construction and maintenance instead of relying on voter-approved bonds, according to the state's non-partisan Legislative Analyst's Office.

A week after pushing Wayne County, Mich. to junk territory, Standard & Poor's released a commentary saying it's too early to start talking about bankruptcy or a state takeover for the county, home to Detroit.