News and Information from Bond Buyer

CALIFORNIA

The not-for-profit healthcare sector's operating revenue growth hit an all-time low last year as a national shift toward outpatient and preventative care led to a decline in in-patient visits, according to a report from Moody's Investors Service.

Texas earned record low interest rates on its $5.4 billion sale of tax and revenue anticipation notes on Aug. 26, Comptroller Susan Combs said.

The Port of Los Angeles, an infrequent issuer, plans to price a $339 million combined new money-refunding with AMT and non-AMT the week of Sept. 1.

The Michigan Finance Authority stole the attention in the municipal market Tuesday, pricing a mammoth $1.8 billion of local government loan program revenue bonds for the Detroit Water and Sewerage Department.

Utah has postponed a $235 million advance refunding that had been expected to price competitively Sept. 3.

State Treasurer Steven Grossman is cutting into Attorney General Martha Coakley's lead in the Democratic race for Massachusetts governor, according to a poll.

The judge in charge of mediation in the Detroit bankruptcy case ordered a new round of talks between the city and holders and insurers of $1.4 billion of pension certificates of participation.

Government

The Kroll Bond Ratings Agency assigned its AA rating to Los Angeles' general obligation bonds Tuesday, its first rating of the city.

The Port of Portland is planning to sell nearly $100 million of revenue bonds next week for the Portland International Airport.

Harrisburg, Pa., Treasurer John Campbell has been charged with theft from a nonprofit he used to run, said Dauphin County District Attorney Ed Marsico.

Lawyers involved in a conduit bond financing for a charitable nonprofit organization should decide as soon as possible which of them is responsible for ensuring the tax-exempt status of the borrower, the National Association of Bond Lawyers concludes in a just-released paper.

A hurricane financing expert praised a $56 million plan by the U.S. Department of Agriculture to harden parts of New York City through wetlands protection.

Standard & Poor's Ratings Services said it raised its long-term rating to A-minus from BBB on Riverside County Redevelopment Agency (RDA), Calif.'s outstanding tax allocation bonds secured by the successor agency's (SA) Desert Communities Project Area (DCPA).

The trustee on $20 million of unrated bonds issued for the bankrupt Leafs Hockey Club in suburban Chicago hopes to reach a debt restructuring deal with the club by early October but the two sides remain at loggerheads over the club's fiscal prospects.

States are losing more than $1 billion a year by giving breaks on jet fuel taxes to airlines, the Unite Here International Union said in a new report.

Moody's Investors Service said it has downgraded to A1 from Aa3 the general obligation rating of the city of Burbank, Ill.

Moody's Investors Service said it has downgraded to Aa3 from Aa2 the rating on Orange County, N.Y.'s $261 million outstanding general obligation debt.

The Treasury Department Tuesday auctioned $29 billion of two-year notes with a 1/2% coupon at a 0.530% yield, a price of 99.912595.