News and Information from Bond Buyer

Moody's Investors Service has revised its outlook to positive from stable on Avera Health, one of South Dakota's largest health care providers, as the system comes to market this week with $59 million of bonds.

Moody's Investors Service deemed a California Superior Court judge's ruling that existing teacher tenure and seniority laws are unconstitutional a credit positive.

Standard & Poor's Ratings Services said it lowered its long-term and underlying rating to A-minus from A on Vernon, Texas' existing general obligation debt.

Standard & Poor's Ratings Services said it raised its rating on King Philip Regional School District, Mass.' general obligation debt two notches to AA-plus from AA-minus.

Foreign equity investment interest in U.S. public-private partnerships at all-time level, a House P3 panel was told.

Standard & Poor's Ratings Services said it has raised its ratings on the Sienna Plantation Levee Improvement District, Texas's existing general obligation debt to A-minus from BBB-plus.

The Financial Industry Regulatory Authority censured and imposed a $200,000 fine on the former Howe Barnes Hoefer & Arnett in Chicago for excessive markups of zero-coupon municipal bonds and U.S. Treasury and agency STRIPS, questionable trading practices, and supervisory failures.

Texas is preparing to pour $1.85 billion into the bond market with issues from three state agencies in June.

Two bond insurers that wrap Detroit water and sewer bonds have told bondholders to reject Detroit's bankruptcy plan of confirmation, even as the insurers fight for the exclusive right to vote on the plan.

The Securities Industry and Financial Markets Association has sent a letter to numerous federal regulators arguing that the joint venture structure used for the first time last week to sell tender option bonds should be legal under the Volcker rule.

Faced with rising rents around its Midtown Campus, the Houston Community College District is considering building a dormitory that more students could afford, officials said.

Georgia is expected to auction a five-part general obligation deal totaling about $978 million on Tuesday, the largest deal of the week.

Standard & Poor's Ratings Services said it has raised its long-term and underlying ratings on Dallas County Utility and Reclamation District, Texas' general obligation debt one notch to A-minus from BBB-plus.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.035% high rate, unchanged from 0.035% the prior week, and the six-months incurred a 0.070% high rate, up from 0.060% the week before.

The Treasury Department said Monday it will sell $30 billion of four-week discount bills Tuesday.

The $900 million Texas Department of Transportation general obligation mobility fund and refunding bonds scheduled to sell on Wednesday will be priced aggressively, traders predict.

Builders' confidence in the market for new single-family homes grew as the National Association of Home Builders' housing market index climbed to 49 in June from 45 in May.

Industrial production rose 0.6% in May, the Federal Reserve reported Monday.

The Empire State Manufacturing Survey showed "improved significantly for a second consecutive month for New York manufacturers," in June, the Federal Reserve Bank of New York reported Monday as the general business conditions index climbed to 19.28 in June from 19.01 in May.

Jun. 16, 2014 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.18 1.5 2.63 3.68 Delaware Aaa/AAA/AAA 0.12 1.29 2.32 3.37 Maine Aa2/AA/AA 0.15 1.41 2.53 3.58 Maryland Aaa/AAA/AAA 0.14 1.3 2.33 3.38 Massachusetts Aa1/AA+/AA+ 0.15 1.38 2.49 3.59 New Hampshire Aa1/AA/AA+ 0.14 1.35 2.43 3.48 New Jersey Aa3/AA+/AA+ 0.24 1.61 2.69 3.75 New York Aa2/AA/AA 0.14 1.35 2.4 3.54 Pennsylvania Aa2/AA/AA 0.15 1.47 2.6 3.65 Rhode Island Aa2/AA/AA 0.18 1.52 2.67 3.77 Vermont Aaa/AA+/AAA 0.14 1.35 2.39 3.43 Dist. of Columbia Aa2/A+/AA+ 0.16 1.43 2.58 3.67 Puerto Rico Baa3/BB+/BBB- 7.74 8.5 8.78 7.88