News and Information from Bond Buyer

Colorado lawmakers did not violate the Colorado constitution by reducing cost of living adjustments for retired public employees, the state Supreme Court ruled.

California's state-owned earthquake insurance provider is planning to sell $350 million of taxable bonds next week to help boost its ability to pay claims.

Standard & Poor's Ratings Services said it raised its underlying rating (SPUR) to BB from B on Wilson County Memorial Hospital, Texas' (doing business as Connally Memorial Medical Center) series 2003 general obligation (GO) bonds.

Standard & Poor's Rating Services said it has raised its rating on Philadelphia, Pa.'s revenue bonds, issued on behalf of Philadelphia Gas Works (PGW) under its 1975 (closed senior lien) and 1998 ordinances (subordinate working lien) to A-minus from BBB-plus.

Standard & Poor's Ratings Services said it raised its rating on Keyes Union School District, Calif.'s general obligation bonds to A from A-minus.

Puerto Rico's unemployment rate jumped to 14.1% in September, a second month of increases as the commonwealth battles to bolster its sagging economy.

Work will get under way next year on D.C.'s $54 billion, 25-year transportation plan, including a new bridge over the Anacostia River.

Chicago's general obligation bond ratings will remain pressured until the city fully fixes its pension mess, top city finance officials told alderman, while warning City Council not to expect to use reserves to ease the pain of a coming $550 million pension spike.

Alabama House of Representatives speaker Mike Hubbard faces 23 felony ethics law violations after being indicted by a grand jury on Monday.

Moody's Investors Service said it downgraded to A1 from Aa3 the issuer rating of Antioch Unified School District, Calif., and downgraded to A1 from Aa3 the rating of Antioch Unified School District's School Facilities Improvement District (SFID).

The municipal market's sell-off is negatively impacting primary deals pricing on Tuesday, market participants said.

Fitch Ratings downgrades the rating on the following $18.1 million special obligation and refunding taxable bonds, series 2010, of the Alabama Revolving Loan Fund Authority from AA-plus to AA-minus.

The Treasury Department Tuesday auctioned $34 billion of four-week bills at a 0.030% high yield, a price of 99.997667.

Doral Financial Corp.'s claim for $230 million of tax refunds from the commonwealth of Puerto Rico was recently upheld in a lower court ruling.

The merger trend among U.S. not-for-profit health care providers is in full swing, with some health systems doing not one but multiple acquisitions, and others likely to continue their search for partners or unique affiliations, Standard & Poor's Ratings Services said in a report released Tuesday.

Dan Patrick, the frontrunner in the race for Texas lieutenant governor, has announced plans to raise sales taxes to offset a reduction in property tax rates.

A slew of issuance is scheduled to come to market Tuesday. There's a little of everything in the primary for investors with several BBB credits expected to be priced, as well as some highly rated competitive issuances.

Fully funding its next four-year capital program without burdening riders poses an immediate challenge for New York's MTA, according to state Comptroller Thomas DiNapoli.

The region's non-manufacturing sector expanded at a faster pace in October, as the general business conditions index climbed to 50.0 from 42.9 in September, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

Existing home sales rose 2.4% to a seasonally adjusted 5.17 million-unit rate in September from a unrevised 5.05 million pace the previous month, the National Association of Realtors announced Tuesday