News and Information from Bond Buyer

The Bond Buyer's weekly yield indexes declined for the week ending Aug. 28.

Government

Detroit has finalized an agreement with Barclays Capital Inc. for up to $275 million in financing to exit Chapter 9 bankruptcy as the city gears up for a trial next week on its confirmation plan.

Lake Worth, Fla., voters refused to OK $63.5 million in GO bonds on the Aug. 26 ballot, but other bond referendums are set for November.

Detroit Water and Sewer bonds rallied as they became free to trade on Thursday, and Illinois yields followed, a sign of investors’ demand for yield in a low-supply environment.

The National Civil War Museum spends nearly two-thirds of its funding from hotel tax revenues on salaries, said Harrisburg, Pa., Mayor Eric Papenfuse.

Facing pressure to approve a new tribal casino in southeastern Wisconsin, Gov. Scott Walker said his administration is proceeding cautiously in its ongoing review over concerns that the state could lose $100 million in payments from nearby tribal casinos.

Former Orlando-Orange County Expressway Authority board member Scott Batterson was found guilty of bribery in a case that highlighted authority business, including bond discussions, being done in a backroom fashion despite state “sunshine” laws.

Opponents of bond financing for the Atlanta Braves new $672 million baseball stadium have filed notices of three appeals by the court's deadline.

Metro-North Railroad's emphasis on on-time performance worsened the safety culture at the commuter rail line, said a report commissioned by New York's MTA.

A federal lawsuit seeking to halt Maryland's $2.4 billion Purple Line light rail project says track work will threaten endangered species.

Moody's Investors Service said it has downgraded to A3 from A2 the underlying general obligation rating of Marlette Community School District, Mich.

The Treasury Department auctioned $29 billion of seven-year notes, with a 2% coupon, a 2.045% high yield, a price of par.

The federal government's review of Medicaid reimbursements will not affect Connecticut's AA general obligation bond rating for now, said Standard & Poor's.

The success of the oversubscribed $1.8 billion Detroit Water and Sewer Authority deal earlier this week has made investors more confident in bonds from states and municipalities that have financial troubles.

The Municipal Securities Rulemaking Board failed to address concerns that its proposed municipal advisor supervision rule will be too costly and burdensome, non-dealer MAs told the Securities and Exchange Commission this week.

Unrated Irvine, Calif., dirt bonds were oversubscribed by five to eight times when they priced in early August amid overall yield compression.

John Campbell, charged with theft from a local nonprofit, resigned as city treasurer in distressed Harrisburg, Pa., and surrendered to prosecutors.

The Treasury Department said Thursday it will auction $28 billion 91-day bills and $24 billion 182-day discount bills Tuesday.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "slowed slightly, but producers' expectations for future factory remained solid" in August, according to the bank's monthly manufacturing survey, released Thursday.