News and Information from Bond Buyer

As 2015 begins, capital markets participants would do well to reflect on the lessons of recent Chapter 9 proceedings.

The Puerto Rico Aqueduct and Sewer Authority plans in March to sell a bond to repay $200 million due at the end of that month and meet up to 18 months of capital expenses.

The Connecticut Housing Finance Authority reported strong retail demand in its oversubscribed sale of housing mortgage finance program bonds.

The forecast for U.S. economic growth remains nearly the same as it did three months ago, with 3.2% growth expected this year, according to the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters, released Friday.

The University of Michigan's preliminary February consumer sentiment index reading was 93.6, compared to the final January 98.1, and the preliminary January 98.2, according to market sources.

The municipal bond market is all but dead Friday, following a very quiet Thursday, with many desks short-staffed before the holiday, as focus shifts to next week's new issue calendar.

Detroit will float $119 million of water and sewer bonds through the state's revolving fund under a resolution approved Thursday by the financial commission that oversees the post-bankrupt city.

The Federal Reserve needs to be vigilant regarding increasing excess reserve levels, since it's not clear what banks will do when conditions change, according to researchers at the Federal Reserve Bank of Cleveland.

Feb. 13, 2015 Far West: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alaska Aaa/AAA/AAA 0.14 1.09 2.09 2.91 California Aa3/A/A 0.16 1.15 2.23 3.16 Hawaii Aa2/AA/AA 0.15 1.16 2.24 3.06 Idaho Aa1/AA+/AA+ 0.14 1.18 2.22 3.05 Montana Aa1/AA/AA+ 0.14 1.17 2.23 3.07 Nevada Aa2/AA/AA+ 0.17 1.21 2.27 3.11 Oregon Aa1/AA+/AA+ 0.14 1.12 2.14 3 Washington Aa1/AA+/AA+ 0.16 1.29 2.34 3.18 Wyoming NR/AAA/NR 0.14 1.16 2.14 2.96

2/12/2015 2/5/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 1 $58,075 0 $0 $58,075 California 13 565,305 14 836,532 ?271,227 Hawaii 0 0 0 0 0 Idaho 1 22,500 0 0 22,500 Montana 0 0 0 0 0 Nevada 1 8,025 0 0 8,025 Oregon 5 96,385 5 102,015 ?5,630 Washington 3 38,575 10 852,035 ?813,460 Wyoming 0 0 0 0 0

Tuesday, February 17 Issuer St Description Amount

Friday, February 13 Issuer St Description Amount

Friday, February 13 Issuer St Description Amount

Friday, February 13 Issuer St Description Amount

CONNECTICUT

ALABAMA

Standard & Poor's has downgraded Puerto Rico's General Obligation rating to B from BB.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose 9 basis points to 4.21% from 4.12% for the week ended Feb. 5.

Legislation aimed at allowing Georgia to take over public schools failing to achieve passing grades has been filed. The measure would require a voter-approved constitutional amendment.

The alleged $1.3 million embezzlement from a Bay Area conduit bond issuer has spurred action in Sacramento, triggering legislation, a task force and an audit.