News and Information from Bond Buyer

Friday, December 19 Issuer St Description Amount

Monday, December 22 Issuer St Description Amount

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One week after its emergency from Chapter 9 bankruptcy, Moody's Investors Service has assigned Detroit an issuer credit rating that's deep in junk bond territory at the B3 level.

Government

Illinois Gov. Pat Quinn will call lawmakers back to work on Jan. 8 to take up legislation setting a special election to allow voters to pick a replacement to serve out the late Judy Baar Topinka's term that begins next month.

The municipal market suffered weakness in sympathy with Treasuries as the markets reacted to global financial troubles, the oil crisis, and the news that the Federal Reserve Board will likely keep interest rates at near zero until mid 2015.

For the week ended Dec. 18, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was lower four basis points from the previous week at 4.28%.

Missouri Attorney General Chris Koster sued 13 St. Louis County municipalities Thursday alleging violations of a state law that limits how much money they can make from court-related traffic fines.

The Treasury Department Thursday auctioned $16 billion of four-year four-month inflation-indexed notes with a 0.125% coupon, a 0.395% high yield, an adjusted price of 100.174592

Standard & Poor's warned that the plunge in oil prices could hurt Alaska's credit rating, unless the state takes action to address its deficit.

Weakness in Treasuries spilled over into municipals midday Thursday, extending the morning's overall quiet atmosphere, and slightly curtailing the relative value of municipals to Treasuries compared to earlier in the week, traders reported.

Revenue and demand pressure on not-for-profit healthcare providers as they navigate federal healthcare reform will weigh down the sector for another year, Standard & Poor's said.

Michigan-based Trinity Health is acquiring the Connecticut-based Saint Francis Care in a deal that allows Trinity to expand its Northeastern footprint and gives Saint Francis improved access to capital.

The Queens Library Board of Trustees fired embattled president and chief executive Thomas Galante, who is under federal investigation.

The attorney for the New York City Housing Authority came out swinging in response to a stinging report by city Comptroller Scott Stringer that accused the agency of squandering nearly $700 million of federal funds.

Municipals opened slightly weaker on Thursday morning, while traders reported an increase in bid-wanted lists from investors shopping for year-end bargains.

Despite assurances that Paducah Power, Ky., has a financial recovery plan, Fitch Ratings downgraded the utility's bonds to BBB from A-minus on Wednesday.

The Securities and Exchange Commission has named former Municipal Securities Rulemaking Board general counsel Gary Goldsholle as a deputy director in its Division of Trading and Markets.