News and Information from Bond Buyer

In July Puerto Rico's economic activity index was down 0.8% compared to June.

Standard & Poor's Ratings Services said it revised the outlook to positive from stable and affirmed its AA-minus long-term rating and underlying rating on Los Angeles, Calif.'s general obligation bonds and its A-plus long-term rating and SPUR on the city's appropriation-backed debt outstanding.

Fitch downgraded Florida's Pensacola International Airport bonds to BBB-minus from BBB primarily due to "financial underperformance" and airline consolidation risk.

Kenneth Schuhmacher, former general counsel and commercial director of Skanska Infrastructure Development North America, joined Orrick, Herrington & Sutcliffe.

Yields strengthened on Miami-Dade County revenue 5s of 2043s, sold for Rickenbacker Causeway, Tuesday morning, when the maturity was one of the most actively traded in the secondary market.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.025% high rate, down from 0.030% the prior week, and the six-months incurred a 0.050% high rate, unchanged from 0.050% the week before.

The Treasury Department said Tuesday it will sell $40 billion of four-week discount bills Wednesday.

A more than $700 million dollar deal that RBC Capital Markets executed in New Mexico earlier this month is has raised the eyebrows of some market participants, who think the firm's municipal advisory relationships with several New Mexico cities created a conflict of interest when it underwrote the deal for a power authority run by those municipalities.

S&P lowered its underlying rating to A from A-plus on West Virginia University's bonds citing deteriorating financial ratios because of bond issuances in recent years.

According to the ISM's monthly report on business, the ISM index gained to 59.0 in August from 57.1 in July.

Construction spending grew 1.8% in July, the Commerce Department said Tuesday, and is 8.2% above the July 2013 level.

Barring any last-minute settlements with bond insurers, Detroit will begin defending its plan to restructure debt and begin to rebuild the battered city.

Tuesday, September 2 Issuer St Description Amount

Tuesday, September 2 Issuer St Description Amount

Week Of September 2 Issuer St Description Amount

Week Of September 2 Issuer St Description Amount

INDIANA

ALABAMA

Sep. 2, 2014 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.17 1.24 2.38 3.36 Arkansas Aa1/AA/NR 0.12 1.11 2.16 3.13 Colorado Aa1/AA/NR 0.13 1.15 2.28 3.27 Kansas Aa1/AA+/NR 0.12 1.15 2.23 3.2 New Mexico Aaa/AA+/NR 0.12 1.12 2.2 3.18 Oklahoma Aa2/AA+/AA+ 0.13 1.18 2.27 3.25 Texas Aaa/AAA/AAA 0.12 1.1 2.13 3.11 Utah Aaa/AAA/AAA 0.12 1.08 2.08 3.04

9/1/2014 8/25/2014 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 0 $0 0 $0 $0 Arkansas 4 36,890 2 13,860 23,030 Colorado 4 82,745 2 36,200 46,545 Kansas 0 0 3 34,595 -34,595 New Mexico 1 630 1 18,000 -17,370 Oklahoma 2 11,700 4 26,635 -14,935 Texas 21 663,985 24 731,452 -67,467 Utah 1 5,100 1 11,460 -6,360