News and Information from Bond Buyer

Moody's Investors Service downgraded the Unified Government of Kansas City and Wyandotte County, Kan., to A1 from Aa3 due to "narrow general fund reserves and liquidity compared to similarly rated credits."

Moody's Investors Service has placed Kern County under review for a possible downgrade affecting approximately $86 million in debt.

Tuesday, February 3 Issuer St Description Amount

Monday, February 2 Issuer St Description Amount

Week Of February 2 Issuer St Description Amount

Week Of February 2 Issuer St Description Amount

Feb. 2, 2015 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.18 1.11 2.05 2.86 Delaware Aaa/AAA/AAA 0.13 0.93 1.73 2.52 Maine Aa2/AA/AA 0.15 0.98 1.83 2.64 Maryland Aaa/AAA/AAA 0.14 0.94 1.75 2.54 Massachusetts Aa1/AA+/AA+ 0.16 0.99 1.87 2.7 New Hampshire Aa1/AA/AA+ 0.14 0.98 1.83 2.66 New Jersey A1/A/A 0.26 1.42 2.35 3.12 New York Aa1/AA+/AA+ 0.14 0.96 1.82 2.7 Pennsylvania Aa3/AA+/AA+ 0.16 1.15 2.06 2.87 Rhode Island Aa2/AA/AA 0.18 1.1 2.05 2.88 Vermont Aaa/AA+/AAA 0.14 0.95 1.8 2.57 Dist. of Columbia Aa2/AA/AA 0.16 1.05 1.96 2.79 Puerto Rico B2/BB/BB+ 7.54 8.94 8.75 7.74

ILLINOIS

ALASKA

1/30/2015 1/23/2015 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 2 $22,250 4 $47,180 -$24,930 Delaware 0 0 1 125,000 -125,000 Maine 4 87,531 2 21,031 66,500 Maryland 2 451,060 2 530,350 -79,290 Massachusetts 5 59,210 6 41,802 17,408 New Hampshire 0 0 0 0 0 New Jersey 8 210,072 2 50,780 159,292 New York 10 78,063 11 98,799 -20,736 Pennsylvania 16 1,153,720 13 1,181,970 -28,250 Rhode Island 2 598,675 2 598,675 0 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 0 0 0 0 0

Day Indicator Last Report Forecast Monday Personal Income Nov.: +0.4% Dec.: +0.2% Monday Consumption Nov.: +0.6% Dec.: -0.2% Monday Core PCE Nov.: unch Dec.: 0.0% Monday Construction Spending Nov.: -0.3% Dec.: +0.7% Monday ISM Manufacturing Dec.: 55.1 Jan.: 54.5 Tuesday Factory Orders Nov.: -0.7% Dec.: -2.2% Wednesday ADP Employment Dec.: +241,000 Jan.: +225,000 Wednesday ISM Non-Manufacturing Dec.: 56.5 Jan.: 56.4 Thursday Initial Jobless Claims 1/24: 265,000 1/31: 290,000 Thursday Continuing Claims 1/17: 2.385M 1/24: 2.400M Thursday International Trade Nov.: -$39.0B Dec.: -$38.0B Thursday Productivity Q3: +2.3% Q4: +0.5% Thursday Unit Labor Costs Q3: -0.1% Q4: +1.0% Friday Nonfarm Payrolls Dec.: +252,000 Jan.: +235,000 Friday Private Payrolls Dec.: +240,000 Jan.: +225,000 Friday Manufacturing Payrolls Dec.: +17,000 Jan.: +12,000 Friday Unemployment Rate Dec.: 5.6% Jan.: 5.6% Friday Avg Hrly Earnings Dec.: -0.2% Jan.: +0.3% Friday Avg Work Week Dec.: 34.6 Jan.: 34.6 Friday Consumer Credit Nov.: +$15.0B Dec.: +$15.0B

Government

The Securities and Exchange Commission has filed a motion for summary judgment in its securities fraud case against two former JPMorgan bankers involved in Jefferson County's sewer deals and swaps.

Pennsylvania Treasurer Rob McCord resigned late Friday, effective immediately, as news reports swirled that he will plead guilty to charges of threatening would-be campaign contributors with the loss of state business.

Alabama State University's long-term ratings were dropped far into junk territory, to B from BBB-plus, by Standard & Poor's Jan. 30 due to the “significant” erosion of reserves.

Two veteran Ohio municipal bond traders who started in the business in the 1960s are retiring from Stifel, Nicolaus & Co., which will close its Ohio trading desk with the departures of Bob Perrier and Linda Erlandson.

Prices of top-quality municipal bonds ended higher along with Treasuries on Friday, traders said, as some muni yields fell by as much as four basis points.

Attorney Lisa Grasso Egan will serve as Connecticut's undersecretary for labor relations, state budget director Benjamin Barnes announced Jan. 30.

Harrisburg, Pa., Mayor Eric Papenfuse on Friday signed off on a restructuring agreement for bonds tied to the city's Verizon Center building despite his objections, and called for an investigation into the original 1998 bond deal.

Baird has added eight bankers to its Houston public finance team from RBC Capital Markets, Milwaukee-based Baird said.