News and Information from Bond Buyer

Standard & Poor's Ratings Services said it has raised its ratings on North Sumter County Utility Dependent District (NSCUDD), Fla.'s series 2010 utility revenue bonds to A from BBB-plus and on the district's series 2010 subordinate utility revenue bonds to A-minus from BBB.

Montana's general obligation bond rating was affirmed at Double A ratings ahead of plans to refund $29 million sometime between July 7 and July 15 and given a stable outlook.

Yields on Puerto Rico's mammoth $3.5 billion general obligation bonds, issued in March, jumped to their highest levels.

"Significant limitations" exist that prevent monetary policy from being the right tool to promote financial stability, Federal Reserve Board Chair Janet Yellen said Wednesday.

New orders for manufactured goods slipped 0.5% in May, after climbing a revised 0.8% in April, originally reported as a 0.7% increase, the Commerce Department reported Wednesday.

Central and west Florida expressway authorities are set to expand after Gov. Rick Scott signed two bills into law. One creates a new Central Florida Expressway Authority replacing the Orlando-Orange County Expressway Authority.

New York City business activity grew at a faster pace in June, as the current business conditions index climbed to 60.5 from 55.3 in May, the Institute for Supply Management-New York's Report on Business index, released Wednesday, indicated.

Private sector employment increased by 281,000 jobs in June from May, according to the June ADP National Employment Report.

Market participants are already impatient with the summer doldrums and are indifferent toward Federal Reserve Board Chair Janet Yellen's upcoming speech on Wednesday.

Indicator Last Report Forecast Actual Construction Spending April: +0.8% May: +0.5% May: +0.1% ISM Manufacturing May: 55.4 June: 55.9 June: 55.3

Jul. 2, 2014 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.36 2.25 3.51 4.48 Indiana Aaa/AAA/AA+ 0.11 1.26 2.39 3.41 Iowa Aaa/AAA/AAA 0.11 1.27 2.38 3.4 Michigan Aa2/AA/AA 0.16 1.41 2.57 3.62 Minnesota Aa1/AA+/AA+ 0.11 1.23 2.33 3.31 Missouri Aaa/AAA/AAA 0.11 1.21 2.29 3.31 Nebraska NR/AAA/AA+ 0.13 1.32 2.47 3.48 North Dakota Aa1/AA+/NR 0.12 1.3 2.44 3.46 Ohio Aa1/AA+/AA+ 0.12 1.31 2.44 3.47 South Dakota NR/AA+/NR 0.12 1.31 2.48 3.51 Wisconsin Aa2/AA/AA 0.12 1.31 2.47 3.5

7/1/2014 6/24/2014 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 7 $30,461 10 $49,276 -$18,815 Indiana 2 4,335 4 77,845 -73,510 Iowa 2 26,980 4 56,725 -29,745 Michigan 2 13,870 6 329,000 -315,130 Minnesota 20 161,010 26 566,375 -405,365 Missouri 2 31,780 1 6,280 25,500 Nebraska 0 0 0 0 0 North Dakota 1 1,095 1 850 245 Ohio 3 339,990 2 43,640 296,350 South Dakota 0 0 0 0 0 Wisconsin 7 280,340 11 112,320 168,020

Wednesday, July 2 Issuer St Description Amount

Wednesday, July 2 Issuer St Description Amount

Wednesday, July 2 Issuer St Description Amount

Week Of June 30 Issuer St Description Amount

ALABAMA

LOUISIANA

Standard & Poor's has shifted its outlook to negative on New Mexico State University's AA rating, citing three years of falling enrollment.

Moody's Investors Service has upgraded the rating to Aa3 from A1 on the Southern California Public Power Authority's Milford Wind Project Revenue Bonds and gave the bonds a stable outlook.