News and Information from Bond Buyer

Standard & Poor's Ratings Services said it lowered its underlying rating three notches to BB from BBB on North Dakota State Board of Higher Education's series 2010 taxable housing and auxiliary facilities revenue bonds (recovery zone economic development bonds [RZEDBs]), issued for Williston State College.

Pennsylvania's stressed public school districts are devising novel approaches for combating competition from charter schools, according to Moody's.

New York Gov. Andrew Cuomo is proposing using much of $5.4 billion in available legal settlement funds to pay for infrastructure needs and toll subsidies.

New York's Metropolitan Transportation Authority approved biennial fare and toll increases of roughly 4%, spread over two years.

Honolulu City Council members are balking at a request to issue $350 million in commercial paper for the city's delayed and over-budget elevated rail transit system.

The Treasury Department sold $15 billion of inflation-indexed 10-year TIPs at a 0.315% high yield, an adjusted price of 99.102886, with a 1/4% coupon.

A proposed bill requiring Nebraska issuers to boost disclosure and stress bondholders' lack of priority over pensioners could spook national investors and drive up borrowing costs, some market participants warned state lawmakers Wednesday.

The Municipal Securities Rulemaking Board will discuss municipal advisor qualification examinations, as well as comments on proposals restricting MA gift giving and requiring dealers to disclose reference prices on confirmation sheets at its quarterly meeting in Alexandria, Va., next week.

The municipal bond market on Thursday is working off the heavy supply that hit the screens on Wednesday when close to $5 billion of new issues were priced.

The Treasury Department said it will auction $15 billion two-year floating rate notes on Tuesday, Jan. 27.

The Treasury Department said Thursday it will auction $24 billion 91-day bills and $24 billion 182-day discount bills Monday.

The Treasury Department said it will auction $29 billion seven-year notes on Thursday, Jan. 29.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "expanded at a slower pace, but producers' expectations for future activity remained at solid levels" in January, according to the bank's monthly manufacturing survey, released Thursday.

Standard & Poor's anticipates overall stability for the majority of its rated local governments in Texas despite a dramatic oil price drop reminiscent of the 1980s.

The municipal bond market on Thursday is working off the heavy supply that hit the screens on Wednesday when more than $4.5 billion of new issues were priced.

Indicator Last Report Forecast Actual Initial Jobless Claims 1/10: 317,000 1/17: 300,000 1/17: 307,000 Continuing Claims 1/3: 2.428M 1/10: 2.410M 1/10: 2.443M

The European Central Bank announced its Governing Council held interest rates at its latest monetary policy meeting Thursday.

Jan. 22, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.14 1.01 1.82 2.62 Florida Aa1/AAA/AAA 0.14 1.02 1.88 2.7 Georgia Aaa/AAA/AAA 0.14 0.98 1.75 2.53 Kentucky Aa2/AA+/AA+ 0.16 1.09 1.96 2.76 Louisiana Aa2/AA/AA 0.15 1.08 1.95 2.74 Mississippi Aa2/AA/AA+ 0.16 1.08 1.94 2.72 North Carolina Aaa/AAA/AAA 0.14 0.98 1.75 2.53 South Carolina Aaa/AA+/AAA 0.14 1 1.79 2.57 Tennessee Aaa/AA+/AAA 0.14 1 1.79 2.56 Virginia Aaa/AAA/AAA 0.14 0.97 1.74 2.52 West Virginia Aa1/AA/AA+ 0.16 1.08 1.96 2.76

1/21/2015 1/14/2015 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 4 $531,135 5 $631,225 ?100,090 Florida 4 419,265 4 529,880 -110,615 Georgia 0 0 3 48,365 -48,365 Kentucky 4 16,690 2 17,300 -610 Louisiana 6 498,025 2 16,675 481,350 Mississippi 0 0 0 0 0 North Carolina 4 108,520 1 72,200 36,320 South Carolina 2 213,115 1 16,890 196,225 Tennessee 2 29,020 0 0 29,020 Virginia 4 512,040 2 35,500 476,540 West Virginia 2 71,980 0 0 71,980

Thursday, January 22 Issuer St Description Amount