News and Information from Bond Buyer

The $226.6 million Metropolitan Transportation Authority transportation revenue variable rate bonds were in heavy demand on Thursday because variable rate bonds offer an attractive hedge against interest rates, market participants said.

Texas voters will decide in November on a constitutional amendment that could boost state highway spending by $1.7 billion a year.

Puerto Rico's government is closer to naming a master developer to repurpose the United States Navy's former Roosevelt Roads base through development that the government expects to create 20,000 long-term jobs.

Moody's Investors Service said it has upgraded to Aa2 from Aa3 the rating assigned to Children's Medical Center of Dallas' (CMC) $358 million of outstanding bonds issued by the North Central Texas Health Facilities Development Corporation.

Chicago is readying about $700 million of water and wastewater revenue bonds for sale, pressing with investors the credits' mostly double-A level ratings that's distinct from its battered general obligation standing.

The New York City Municipal Water Finance Authority plans to sell about $425 million of bonds over the next two weeks, according to officials.

Three Detroit hospitals announced that they have closed a merger that creates a $3.8 billion system that's the largest health care provider in southeast Michigan.

Standard & Poor's Ratings Services said that it lowered its ratings on five CUSIPs of Detroit's outstanding sewerage disposal and water supply revenue bonds to D from CC, as indicated in a report dated Aug. 28, 2014.

The Treasury Department's 2014-2015 priority guidance plan includes new projects to both update guidance on management contracts that impact private-activity bonds, and ensure PAB rules don't conflict with a new type of arrangement promoted by President Obama's health care reform law.

Puerto Rico is doubling fares on its Tren Urbano rail line in San Juan to prop up the finances of the transit system.

The Massachusetts Bay Transportation Authority has issued an RFP for an air-rights project at its Hynes Convention Center station over the Turnpike.

Two ex-JPMorgan bankers seek to revise their statements in an SEC case about the sale of Jefferson County, Ala.’s sewer debt, now that a key player has been deposed.

Fitch Ratings said it has downgraded to BBB-plus from A-minus the rating on the approximately $17 million series 2007 bonds issued by North Carolina Medical Care Commission on behalf of Arbor Acres United Methodist Retirement Community.

The $337.3 million Los Angeles Harbor Department revenue and refunding bonds came priced aggressively as municipal bonds steadied on Thursday, leading market participants to believe municipal bonds' reaction to the spike in Treasuries' yields earlier this week may have been overblown.

With California's legislative session at an end, the fate of many public finance bills now lies in the hands of Gov. Jerry Brown, including several tax increment financing bills that could partly replace redevelopment agencies.

The three counties around Detroit objected to the city's bankruptcy exit plan, arguing that the proposed treatment of the massive Detroit Water and Sewerage Department would spell catastrophe for the aging system.

With the economy progressing, not is the time to "reformulate" the Federal Open Market Committee's forward guidance, Federal Reserve Bank of Cleveland President and CEO Loretta J. Mester said Thursday.

The Treasury Department said it will auction $27 billion three-year notes on Sept. 9.

The Treasury Department said it will auction $21 billion 9-year, 11-month 2 3/8% notes on Sept. 10.

The Treasury Department said it will auction $13 billion 29-year, 11-month 3 1/8% bonds on Sept. 11.