News and Information from Bond Buyer

Thursday, July 31 Issuer St Description Amount

Thursday, July 31 Issuer St Description Amount

Indicator Last Report Forecast Actual GDP Q1: -2.1% Q2: +3.0% Q2: +4.0% Final Sales Q1: -1.0% Q2: +2.1% Q2: +2.3%

Jul. 31, 2014 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.11 1.2 2.26 3.35 Florida Aa1/AAA/AAA 0.11 1.26 2.29 3.42 Georgia Aaa/AAA/AAA 0.11 1.2 2.18 3.23 Kentucky Aa2/AA+/AA 0.13 1.3 2.38 3.46 Louisiana Aa2/AA/AA 0.12 1.29 2.36 3.42 Mississippi Aa2/AA/AA+ 0.13 1.29 2.38 3.43 North Carolina Aaa/AAA/AAA 0.11 1.2 2.17 3.22 South Carolina Aaa/AA+/AAA 0.11 1.21 2.21 3.26 Tennessee Aaa/AA+/AAA 0.11 1.2 2.22 3.25 Virginia Aaa/AAA/AAA 0.11 1.19 2.16 3.21 West Virginia Aa1/AA/AA 0.12 1.29 2.39 3.45

Week Of August 4 Issuer St Description Amount

Week Of July 28 Issuer St Description Amount

7/30/2014 7/23/2014 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 3 $276,995 1 $186,505 $90,490 Florida 5 167,330 7 238,275 -70,945 Georgia 2 24,260 2 24,260 0 Kentucky 5 237,405 2 25,755 211,650 Louisiana 3 33,445 2 356,050 -322,605 Mississippi 1 7,780 1 8,445 -665 North Carolina 0 0 0 0 0 South Carolina 0 0 1 65,000 -65,000 Tennessee 0 0 1 19,000 -19,000 Virginia 5 655,850 4 165,300 490,550 West Virginia 0 0 0 0 0

ARKANSAS

CALIFORNIA

The pension lawsuit against New Jersey Gov. Chris Christie over lack of payments to the state's pension system has been rebooted.

The Chicago City Council approved a 56% increase in the city's emergency services surcharge that's tacked on to phone bills, staving off the need for a $50 million property tax hike next year to cover the first year of higher contributions due under a pension reform plan.

The market stayed largely firm on Wednesday as treasuries rose to yearly highs following an unexpectedly high GDP announcement in the morning.

Government

The Los Angeles County Metropolitan Transportation Authority’s board voted last week to study the feasibility of creating a light rail system on the Orange Line to connect the San Fernando and San Gabriel Valleys.

Moody's Investors Service revised the Illinois Institute of Technology's outlook to stable, easing pressure on the rating that is at the lowest investment grade level.

Moody's Investors Service on Wednesday released proposed changes in its rating methodology for 1,100 municipal utilities that it said would only result in rating changes, split between upgrades and downgrades, for less than 10% of them.

The money that retirees spend from the payments they receive from defined benefit pension plans supports jobs and economic activity, according to a report released Wednesday by the National Institute on Retirement Security.

A year after Detroit filed for bankruptcy, the city's decision to put pensioners above bondholders has created an uncertain recovery environment for the entire muni sector, according to Standard & Poor's.

The House and Senate seem to be playing a political game of chicken with the Highway Trust Fund, sending differing bills to extend its solvency back and forth just two days before federal officials have threatened to begin cutting back on federal transportation reimbursements to states if there is an impasse

If the Puerto Rico Electric Power Authority were to fail to make loan payments to Citibank due on July 31, the consequences might spread beyond Puerto Rico bonds. Bad news on PREPA could also trigger a selloff of tobacco bonds, analysts speculated.