News and Information from Bond Buyer

Moody's Investors Service said it has upgraded to Aa1 from Aa2, the rating on Dallas County, Iowa's general obligation bonds, affecting $12.7 million in rated debt.

ARKANSAS

Tuesday, August 26 Issuer St Description Amount

Monday, August 25 Issuer St Description Amount

Week Of August 25 Issuer St Description Amount

Week Of August 25 Issuer St Description Amount

Weekly Economic indicators box Day Indicator Last Report Forecast Monday New Home Sales June: 406,000 July: 430,000 Tuesday Durable Goods June: +1.7% July: +6.9% Tuesday Durable Goods ex-trans June: +1.9% July: +0.6% Tuesday Consumer Confidence July: 90.9 Aug.: 89.0 Thursday GDP Q1: -2.1% Q2: +4.0% Thursday Final Sales Q1: -1.0% Q2: +2.5% Thursday Initial Jobless Claims 8/16: 298,000 8/23: 300,000 Thursday Continuing Claims 8/9: 2.500M 8/16: 2.515M Thursday Pending Home Sales June: -1.1% July: +0.6% Friday Personal Income June: +0.4% July: +0.3% Friday Consumption June: +0.4% July: +0.2% Friday Core PCE June: +0.1% July: +0.1% Friday Chicago PMI July: 52.6 Aug.: 56.0 Friday Michigan Sentiment July: 81.8 Aug.: 80.2 Friday Current Conditions July: 97.4 Aug.: 99.4 Friday Expectations July: 71.8 Aug.: 67.5

As the end of summer approaches and supply continues to dwindle, weekly volume in the municipal market is expected to sink to $2.53 billion, the lowest level in almost six months. A $480 million offering from the Virginia Public Building Authority is the largest deal on the new-issue calendar this week.

Government

In a market starved for supply, yields have tightened to the point where sector differentiation has all but disappeared, leaving investors with risky investments and no reward.

New York City has reached tentative seven-year, four-month contract agreements with SEIU Local 300 and the United Probation Officers Association, Mayor Bill de Blasio said.

The public agency overseeing construction of a new Minnesota Vikings stadium approved a $49 million increase in the project's budget due to rising construction costs.

Detroit will refinance a chunk of its water and sewer debt as part of a tender offer settlement with bondholders.

A recent decision by the California Public Employees' Retirement System to approve new pension calculations will increase the costs of pension obligations among public employers, according to Fitch Ratings.

Michigan deputy treasurer Wayne Workman, who joined the state last year after a long stint as its financial advisor at Robert W. Baird & Co., has been appointed interim director of the state housing authority.

A recent Moody's downgrade of the Philadelphia School District to Ba3 was another indication of the district's growing financial problems, but a state intercept program insulates holders of the district's $3.1 billion in bonds from those troubles.

The terms of a loan turned the outlook on Florida Gulf Coast University's debt to negative, and could result in a rating downgrade of two notches, Standard & Poor's said.

Audits conducted by the state controller's office found that a California prison and psychiatric hospital have engaged in improper payroll practices, resulting in the overpayment of many state employees.

The market priced Friday morning's Washington Health Care Facility's Authority deal in line with a general obligation deal despite it being a hospital revenue deal. The market's tight supply has all but eliminated sector-differentiated spreads.