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Government

Moody's Investors Service has raised by one notch its sales tax ratings on three Iowa school districts to reflect an extension of their sales tax base not previously factored into its ratings by Moody's.

Washington State University has been authorized to sell up to $16.25 million of revenue bonds for a new health clinic at its Spokane, Wash. campus.

Former District of Columbia Treasurer Lasana Mack was reported missing earlier this month, and a body found in a Maryland park is believed to be his, police said.

Citing weak debt coverage, Standard & Poor's downgraded Arizona Health Network's revenue bonds to BBB from BBB-plus and retained a negative outlook.

As spreads on bonds from the recent Detroit Water and Sewer, Chicago Water and Chicago Wastewater deals tighten, some analysts warn these credits might not be as safe as investors think.

A federal judge granted class action status to an investor lawsuit accusing the former Morgan Keegan & Co. Inc. of securities fraud for its role in underwriting $39 million of defaulted bonds issued for a failed artificial sweetener plan in Moberly, Missouri.

Transportation Department doesn't account for how it awards federal TIGER grants, GAO says in new report.

Issuers battling dealer firms over the right to seek arbitration to settle disputes over auction rate securities are planning to take their case to the Supreme Court now that a federal appeals court has ruled against them.

New York's MTA intends to pitch the city, state and federal government and corporate leaders to help cover its $15.2 billion capital program gap. Otherwise, it will have to borrow more.

A Michigan board Wednesday voted to approve two emergency loans to cash-strapped Detroit suburbs, which are under state control, that will be used for pension payments.

Palm Beach County, Fla., tells two Major League Baseball teams seeking a new $140 million spring training stadium to revise their proposal for public financing.

The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/4% coupon, a 1.800% high yield, a price of 99.761942.

Federal Reserve Bank of Chicago President Charles Evans said he wants the Fed to hold off on liftoff until it is clear that the economy will grow after rate hikes.

New York issuers – particularly the Triborough Bridge and Tunnel Authority and the New York City Municipal Water Financing Authority – led trading on Wednesday morning as fund managers positioned themselves to welcome the newly issued New York City sales tax asset revenue deal.

New York City Comptroller Scott Stringer has called for the city to issue environmental, or green bonds, as part of its debt package over four years.

California completed its sale on Tuesday of $2.37 billion of general obligation bonds, meeting strong demand from both retail and institutional investors.

The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.041%, at a 0.070% spread, a price of 100.054264.

Cathedral City officials have twice drawn on reserves this year to make bond payments on $12.3 million in community development district bonds issued to pay for instrastructure for the 1,362-unit Verano, a master-planned community in the Coachella Valley city.