News and Information from Bond Buyer

A three-year delay completing new nuclear units in which the South Carolina Public Service Authority owns 45% is a credit negative for the public utility, Moody's said Thursday.

Fitch Ratings has downgraded to A from A-plus the rating on $50.7 million state of Connecticut Health and Educational Facilities Authority revenue bonds, series F (2011) issued on behalf of Lawrence & Memorial Hospital (LMH).

Vermont Gov. Peter Shumlin reached a deal Wednesday to cut about 2% from expenditures in the current budget.

The municipal and Treasury markets both strengthened Thursday, particularly in the long end. Traders expect the rally to continue, as the market picks up investors fleeing Europe.

Pennsylvania's Transportation Commission will submit an updated 12-year, $63.2 billion transportation program to federal officials, said Gov. Tom Corbett.

The Treasury Department Thursday auctioned $16 billion of 30-year bonds with a 3 1/8% coupon at a 3.224% high yield, a price of 98.105640.

Standard & Poor's Ratings Services said it raised to AA-minus from A-plus its long-term rating on Mount Vernon, Iowa's general obligation capital loan notes.

A few years ago, housing finance agencies avoided tax-exempt bond issuance in favor of secondary market sales to fund mortgages. Now they appear ready to return to traditional housing bond financing.

Issuance of municipal MSA tobacco bonds by states was the subject of a highly critical article published by ProPublica. The article attempts to make a case that states erred in deciding to issue tobacco bonds. The article was widely circulated across social media. As we frequently observe, the national media focus on the muni market is appreciated, but the facts got muddied in the pursuit of a good story.

The Treasury Department said it will auction $16 billion four-year eight-month inflation-indexed bonds on Thursday, Aug. 21.

The Treasury Department said it will auction $25 billion year bills on Aug. 19.

The Treasury Department said Thursday it will auction $29 billion 91-day bills and $25 billion 182-day discount bills Monday.

After months of debate that stretched legislative deadlines, California lawmakers and Gov. Jerry Brown finally agreed on a $7.5 billion water bond measure to put on the November ballot.

The Far West Region mirrored the U.S. with municipal bond sales dropping 24.8% during the first half of 2014 compared to the same period a year earlier.

Market participants are divided when it comes to the $828.3 million Port Authority of New York and New Jersey consolidated bond deal, which is expected to price for institutions on Thursday.

Moody's Investors Service said it has downgraded to A2 from A1 the general obligation rating of Jefferson, Iowa.

CONNECTICUT

Indicator Last Report Forecast Actual Retail Sales June: +0.2% July: +0.3% July: unch ex-Autos June: +0.4% July: +0.4% July: +0.1% Business Inventories May: +0.5% June: +0.4% June: +0.4%

Thursday, August 14 Issuer St Description Amount

Thursday, August 14 Issuer St Description Amount