News and Information from Bond Buyer

Moody's Investors Service said it has upgraded the rating on Kettering, Ohio's GO debt to Aa1 from Aa2.

Maine's $2 billion, three-year transportation program is designed to upgrade the state's infrastructure despite sluggish federal highway funding.

Indicator Last Report Forecast Actual Treasury Budget Nov.: -$56.8B Dec.: +$10.0B Dec.: +$1.9B

A union opposed to the sale of nonprofit California hospital system Daughters of Charity to a for-profit operator has filed a National Labor Relations Board complaint as it fights to derail the transaction.

The federal government ran a $1.9 billion budget surplus in December, the Treasury Department reported Tuesday.

New Mexico Gov. Susana Martinez proposed a $6.29 billion budget that would increase spending by 2.3% in the coming fiscal year.

Fitch Ratings said it has downgraded the Oroville Elementary School District, Calif.'s $5.4 million general obligation bonds, series 2003, to A-plus from AA-minus.

The Treasury Department auctioned $21 billion of 9-year 10-month notes with a 2 1/4% coupon at a 1.930% high yield, a price of 102.850862.

The dramatic decline in oil prices over the past six months may have implications for economic and revenue trends for certain Texas cities, counties and school districts, according to Fitch Ratings.

The municipal bond market on Tuesday saw a big California issuer sell the largest competitive deal of the week while a New York issuer is holding the second day of retail orders for its bonds.

The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.015% high yield, a price of 99.998833.

The Internal Revenue Service has announced a simplified process for issuers that have loaned proceeds of qualified 501(c)(3) bonds to borrowers that automatically lost their tax-exempt status for failing to file annual returns or notices for three consecutive years, but have subsequently received reinstatement of their tax-exempt status from the IRS.

Pennsylvania DOT has finalized all terms for the department's $899 million Rapid Bridge Replacement Project, Secretary Barry Schoch confirmed.

Connecticut's Bond Commission approved $5.75 million toward new railroad stations on the New Haven-Hartford-Springfield line and the New Haven line, Gov. Dannel Malloy said.

Small businesses were more optimistic in December, as the National Federation of Independent Business' monthly Small Business Optimism index rose to 100.4 from 98.1 in November.

The University of Notre Dame is selling $400 million of Aaa-rated taxable bonds this week to refund hedged variable-rate bonds and raise money for the largest building project in the university's history, centered on its iconic football stadium.

The municipal bond market on Tuesday will see a big California issuer sell the largest competitive deal of the week while a New York issuer will hold a second day of retail orders for its bonds.

Three former chairmen of New York's MTA called on Gov. Andrew Cuomo and state lawmakers to fully fund the authority's $32 billion capital plan.

Jan. 13, 2015 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.19 1.38 2.18 2.99 Arkansas Aa1/AA/NR 0.14 1.26 1.97 2.76 Colorado Aa1/AA/NR 0.15 1.29 2.07 2.89 Kansas Aa1/AA+/NR 0.14 1.31 2.05 2.85 New Mexico Aaa/AA+/NR 0.14 1.28 2.01 2.82 Oklahoma Aa2/AA+/AA+ 0.15 1.33 2.08 2.89 Texas Aaa/AAA/AAA 0.14 1.25 1.96 2.78 Utah Aaa/AAA/AAA 0.14 1.22 1.88 2.67