News and Information from Bond Buyer

Standard & Poor's Ratings Services raised its rating on North Myrtle Beach, S.C.'s general obligation (GO) debt one notch to AA-plus from AA.

Standard & Poor's Ratings Services said it lowered its long-term rating on Hancock County Community Unit School District No. 316 (Warsaw), Ill.'s existing general obligation (GO) debt to A from A-plus.

Private investors will begin collecting tolls soon on new interstate express lanes in Virginia built and operated under a P3 agreement through 2087.

Nearly all Federal Reserve officials expect the first rate hike next year, with only two dissenters thinking the first hike will be appropriate in 2016, and the officials lowered their median estimate for the federal funds rate at the end of 2015 to 1.125%, compared with 1.375% in September.

A big uncertainty for New York's MTA looms after it approved its operating budget for 2015: Its proposed $32 billion capital plan, which state officials must approve.

The Federal Open Market Committee said the zero lower bound percent target range for the federal funds rate “remains appropriate” and the panel “judges that it can be patient in beginning to normalize the stance of monetary policy,” removing the phrase “for a considerable time” from its statement.

The municipal bond market on Wednesday saw two issues from Massachusetts sell in the competitive market as dealers worked through their inventory of the week's new supply.

Congress left town for the holidays after passing a bill that will extend expired bond-related and other tax provisions retroactively through 2014, as well as a $1.01 trillion omnibus spending bill that will fund most government agencies through the end of fiscal 2015 but cut some grant programs.

As it steps up its efforts to police the municipal securities market, the regulator is turning to potentially career ending sanctions for municipal officials.

The median Consumer Price Index increased 0.1% in November, the Federal Reserve Bank of Cleveland reported Wednesday.

Moody's Investors Service has revised its outlook on Aaa-rated Alaska to negative from stable as plunging oil prices threaten to reduce the state's budgetary reserve.

The municipal bond market on Wednesday is looking at the last of the week's big deals after seeing the bulk of the week's new issuance price on Tuesday. Prices of high-quality municipal bonds firmed on Tuesday.

Indicator Last Report Forecast Actual CPI Oct.: unch Nov.: -0.1% Nov.: -0.3% CPI Core Oct.: +0.2% Nov.: +0.1% Nov.: +0.1% Current Account Q2: -$98.4B Q3: -$97.4B Q3: -$100.3B

Dec. 17, 2014 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.54 2.37 3.39 4.29 Indiana Aaa/AAA/AA+ 0.14 1.28 2.11 3.01 Iowa Aaa/AAA/AAA 0.14 1.29 2.11 3.01 Michigan Aa2/AA/AA 0.17 1.45 2.28 3.19 Minnesota Aa1/AA+/AA+ 0.14 1.26 2.04 2.9 Missouri Aaa/AAA/AAA 0.14 1.23 2.02 2.92 Nebraska NR/AAA/NR 0.14 1.32 2.19 3.09 North Dakota Aa1/AA+/NR 0.15 1.32 2.18 3.09 Ohio Aa1/AA+/AA+ 0.15 1.31 2.17 3.08 South Dakota NR/AA+/AA+ 0.15 1.33 2.21 3.12 Wisconsin Aa2/AA/AA 0.16 1.31 2.17 3.1

12/16/2014 12/9/2014 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 16 $477,300 22 $258,884 $218,416 Indiana 5 43,645 20 573,550 -529,905 Iowa 0 0 0 0 0 Michigan 6 124,450 10 387,030 -262,580 Minnesota 10 114,860 18 374,360 -259,500 Missouri 0 0 9 68,165 -68,165 Nebraska 0 0 4 204,310 -204,310 North Dakota 0 0 2 69,005 -69,005 Ohio 8 879,055 13 682,775 196,280 South Dakota 0 0 0 0 0 Wisconsin 6 35,705 17 591,085 -555,380

Week Of December 15 Issuer St Description Amount

Wednesday, December 17 Issuer St Description Amount

Wednesday, December 17 Issuer St Description Amount

CONNECTICUT

ALABAMA