News and Information from Bond Buyer

Officials in Wayne County, Mich., are contemplating the fate of a half-built, bond-financed jail in downtown Detroit that has been abandoned for more than a year amid major cost overruns and an FBI investigation.

Moody's Investors Service said it has upgraded to Baa2 from Ba1, the rating on the city of Vadnais Heights, Minn.'s general obligation unlimited tax debt.

Virginia officials would have to notify lawmakers about potential risks of new transportation P3 agreements under proposed guidelines.

Economic growth remained modest to moderate, according to the Beige Book, released by the Federal Reserve Wednesday.

Moody's Investors Service said it has downgraded the city of Big Lake, Minn.'s general obligation rating to A1 from Aa3 affecting approximately $54.9 million in outstanding GO bonds.

Investment grade bonds of issuers and obligors with at least $100 million of securities outstanding should qualify as high-quality liquid assets under federal banking rules, the Securities Industry and Financial Markets Association told regulators in a just-released letter.

Moody's Investors Service said it has upgraded to Aa2 from Aa3 the general obligation rating of Waupaca County, Wis.

Four years after the Sunshine state passed a law authorizing PACE project financing, billions in bonds face legal challenges before the Florida Supreme Court.

The state of Washington priced right along Municipal Market Data's triple-A 5% curve during its pricing on Wednesday, despite a double-A rating. The deal picked up strength from the intensely firming Treasury market.

Moody's Investors Service said it has downgraded to A2 from A1 the rating on the city of Decatur, Texas' tax and waterworks and sewer system surplus revenue certificates of obligation.

While several methods can measure labor market slack, two Federal Reserve Bank of Cleveland researchers say the two concepts "agree" that the long-term unemployment rate is "almost" at its "normal" level.

Total revenues for the month of September, which ended the state's first fiscal year, came in above estimates at $9.8 billion.

The Financial Industry Regulatory Authority fined two firms a total of $28,500 for violations of municipal securities rules, including excessive markups and trade reporting failures.

The Treasury Department Wednesday auctioned $25 billion of 364-day bills at a 0.100% high yield, a price of 99.898889.

The Treasury Department Wednesday auctioned $33 billion of four-week bills at a 0.015% high yield, a price of 99.998833.

Standard & Poor's Ratings Services said it lowered its rating on Higginsville, Mo.'s sewerage system revenue bonds series 2010 to BBB-minus from A-minus.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating (SPUR) A-plus from A on New Orleans, La.'s drainage system's special ad valorem tax-supported debt.

Delivery of the Official Statement satisfies MSRB Rule G-32 - but not the new Time-of-Trade Disclosure Rule, MSRB Rule G-47.

The federal government ran a $105.8 billion budget surplus in September, the Treasury reported Wednesday, resulting in a fiscal year 2014 deficit of $483.4 billion.

As Treasury yields plummet to 2014 lows, issuers coming to market on Wednesday will benefit, likely to catch cheap borrowing costs.