News and Information from Bond Buyer

The House rejected the Senate's amendments to its $10.8 billion, 10-month bailout of the Highway Trust Fund on Thursday afternoon and sent its original bill back to the Senate.

July volume was down year over year as municipalities keep their foot on project financing, opting to rebuild reserves and liquidity instead.

Standard & Poor's Ratings Services said it has lowered its rating on Puerto Rico Electric Power Authority's (PREPA) power revenue bonds two notches to CCC from B-minus.

The Wisconsin Supreme Court has upheld Gov. Scott Walker's controversial law that curbed most collective bargaining rights for public employees.

Risk costs vary by level of bankruptcy restrictions states place on localities, an insolvency expert said at a Bond Buyer conference in Boston.

Standard & Poor's Ratings Services said it has affirmed its BB general obligation and BB-minus appropriation ratings on the commonwealth of Puerto Rico following an examination of Puerto Rico's enacted fiscal 2015 budget, updated quarterly disclosure, and current and projected liquidity position.

Moody's Investors Service said it has downgraded to Aa3 from Aa2 the general obligation unlimited tax and general obligation limited tax ratings of Eaton City School District, Ohio.

A Kentucky contractor filed a discrimination suit claiming it lost work on the Ohio River Bridges Project due to state delays certifying the minority business.

A water main break that flooded the University of California-Los Angeles campus in Westwood raises the specter of the need for the Los Angeles Department of Water & Power to ratchet up its capital improvement program.

The municipal market had a delayed reaction to the higher-than-expected GDP growth reported Wednesday morning, weakening across the curve on Thursday as Treasuries strengthened.

New York State tax collections in the first quarter of the fiscal year were 7.7% ahead of projections.

Moody's Investors Service enhanced the ratings of 98 New York school districts to Aa3 from A1 with stable outlooks, following rating upgrades for the state's general obligation bonds.

Puerto Rico's problems have yet to cause "systemic" problems for municipal borrowers, the Federal Reserve Bank of New York said in a report released Thursday.

The Treasury Department said Thursday it will auction $28 billion 91-day bills and $25 billion 182-day discount bills Monday.

The Chicago Purchasing Managers' Business Barometer plunged to 52.6 in July from 62.6 in June, the National Association of Purchasing Management-Chicago said Thursday.

The seasonally adjusted Milwaukee Report on Business gained to 63.9 in July from 60.6 in June, the Institute for Supply Management-Milwaukee reported Thursday.

Hawaii took advantage of a market starved for bonds to increase the size of its highway revenue deal and lower its borrowing costs.

The Midwest Economy Index grew to 0.55 in June from a revised 0.45 in May, the Federal Reserve Bank of Chicago reported Thursday.

In light of the MSRB's dual mission to protect both municipal entities and investors, SIFMA urges the MSRB to interpret MSRB Rule G-17, effective immediately, to apply specific baseline provisions to municipal advisors.

Market participants anticipate that the $285 million Illinois Sports Facility Authority refunding bonds deal will bring extra spread to the market on Thursday.