News and Information from Bond Buyer

Kym Arnone, managing director at Barclays Capital, will become the Municipal Securities Rulemaking Board's new chair beginning Oct. 1.

Missouri transportation officials blamed a lack of consensus on how to pay for the state's transportation needs for the failed ballot measure that sought a sales tax hike to generate more than $5 billion in new revenue.

California Governor Jerry Brown is pushing a scaled-down $6 billion water bond to go on the November ballot as other bond proposals in the state legislature remain stalled.

Connecticut's short-term investment fund returned more than triple what similar money market funds pay over the past five years, said Treasurer Denise Nappier.

Louisville Water Co., Ky., plans to advance refund $64.3 million in bonds as analysts and traders see market conditions increasingly favor the refunding sector.

Connecticut and Wisconsin deals topped Wednesday's calendar, after which deal size drops off dramatically. Despite the small size, these local deals have picked up intense interest from hungry bidders.

Standard & Poor's downgraded Kansas to AA from AA-plus and retained a negative outlook Wednesday, citing budget imbalances in the wake of controversial income tax cuts.

Standard & Poor's Ratings Services lowered its long-term rating on West Lafayette Public Library Leasing Corp., Ind.'s series 2012 first-mortgage refunding bonds, issued for and supported by West Lafayette Public Library District, to A-minus from A.

If the State of California wants to maximize refunding savings then the Legislature should authorize "oversight boards" to issue refunding bonds on behalf of successor agencies.

Assured Guaranty, MBIA's National Public Financing Guarantee and Build America Mutual are combining television, radio and internet advertising with one-on-one meetings with issuers to help edge their way back into the municipal market.

*Update: S&P downgrades Kansas to AA (Aug. 6)

Standard & Poor's Ratings Services said it lowered its issuer credit rating on the state of Kansas to AA from AA-plus.

The extension of Chapter 9 provisions governing the adjustment of municipal debt in Puerto Rico would be a positive and important development for Puerto Rico and holders of debt of its public utilities and public instrumentalities, according to Fitch Ratings.

The Treasury Department will raise $9.3 billion of new cash with its quarterly refunding by selling $67 billion to refund $57.7 billion.

Traders have been forced to look ahead, placing bids early to ensure a bite at the few deals scheduled for late this week.

Indicator Last Report Forecast Actual ISM Non Mfg Index June: 56.0 July: 56.3 July: 58.7 Factory Orders May: -0.6% June: +0.6% June: +1.1%

Aug. 6, 2014 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.51 2.64 3.98 4.97 Indiana Aaa/AAA/AA+ 0.11 1.3 2.39 3.42 Iowa Aaa/AAA/AAA 0.11 1.31 2.38 3.41 Michigan Aa2/AA/AA 0.15 1.38 2.56 3.61 Minnesota Aa1/AA+/AA+ 0.11 1.26 2.33 3.33 Missouri Aaa/AAA/AAA 0.11 1.25 2.29 3.32 Nebraska NR/AAA/AA+ 0.11 1.32 2.46 3.49 North Dakota Aa1/AA+/NR 0.12 1.34 2.44 3.47 Ohio Aa1/AA+/AA+ 0.12 1.29 2.4 3.44 South Dakota NR/AA+/NR 0.12 1.35 2.48 3.52 Wisconsin Aa2/AA/AA 0.12 1.32 2.46 3.5

8/5/2014 7/29/2014 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 7 $617,285 8 $325,455 $291,830 Indiana 5 86,875 5 40,055 46,820 Iowa 4 67,155 3 57,665 9,490 Michigan 9 156,675 8 154,835 1,840 Minnesota 17 211,110 16 84,330 126,780 Missouri 5 27,700 5 173,760 -146,060 Nebraska 0 0 0 0 0 North Dakota 1 5,000 2 24,410 -19,410 Ohio 6 86,975 4 162,885 -75,910 South Dakota 0 0 0 0 0 Wisconsin 17 395,225 20 468,355 -73,130

Wednesday, August 6 Issuer St Description Amount

Wednesday, August 6 Issuer St Description Amount