News and Information from Bond Buyer

6/4/2014 5/28/2014 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 0 $0 0 $0 $0 Florida 4 439,300 5 510,045 -70,745 Georgia 10 1,347,990 8 1,320,690 27,300 Kentucky 4 142,340 1 4,650 137,690 Louisiana 2 19,600 3 22,500 -2,900 Mississippi 1 83,000 1 7,000 76,000 North Carolina 0 0 0 0 0 South Carolina 0 0 2 24,840 -24,840 Tennessee 5 196,015 3 28,800 167,215 Virginia 8 398,000 4 347,845 50,155 West Virginia 0 0 0 0 0

Jun. 5, 2014 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.14 1.24 2.4 3.51 Florida Aa1/AAA/AAA 0.14 1.26 2.34 3.52 Georgia Aaa/AAA/AAA 0.14 1.2 2.23 3.33 Kentucky Aa2/AA+/AA 0.16 1.35 2.45 3.56 Louisiana Aa2/AA/AA 0.15 1.3 2.39 3.52 Mississippi Aa2/AA/AA+ 0.16 1.3 2.44 3.51 North Carolina Aaa/AAA/AAA 0.14 1.2 2.23 3.33 South Carolina Aaa/AA+/AAA 0.14 1.22 2.26 3.36 Tennessee Aaa/AA+/AAA 0.14 1.21 2.28 3.38 Virginia Aaa/AAA/AAA 0.14 1.19 2.21 3.31 West Virginia Aa1/AA/AA 0.15 1.3 2.43 3.55

ARIZONA

Indicator Last Report Forecast Actual International Trade March: -$40.4B April: -$40.5B April: -$47.2B Productivity Q4: +2.3% Q1: -2.6% Q1: -3.2% Unit Labor Costs Q4: -0.4% Q1: +4.8% Q1: +6.3% ISM Non Mfg Index April: 55.2 May: 55.5 May: 56.3

ARIZONA

Government

Week Of June 2 Issuer St Description Amount

S&P revised its outlook on Rhode Island Turnpike and Bridge Authority revenue bonds to negative from stable while affirming its A-minus rating on the bonds.

The Suffolk County, N.Y. legislature is taking steps to both increase and decrease the county's borrowing.

The jump in volume this week has caused municipal bonds to sell-off, traders said. Volume this week increased by 70% to $6.5 million from last week's $3.82 million supply.

Two U.S. senators have introduced a bill that give more rights to municipal employees in Chapter 9 bankruptcy proceedings, but experts warn the measure could lead to more litigation and raise Constitutional issues.

The proposed EPA rule to reduce carbon emissions could negatively pressure issuers' credit ratings, some analysts said in preliminary comments this week.

Calling it a historic day in Michigan, Gov. Rick Snyder promised speedy approval of a package of bills aimed at resolving Detroit's bankruptcy with a state contribution to the city's pensions funds.

Colorado's Regional Transportation District has already broken ground on its new North Rail Line that will be financed with $431 million of debt going to market Thursday.

Bond measures met a largely successful reception Tuesday in California's primary election, which also set November races for state offices.

Government officials and pension board members need to be more vigilant about monitoring and evaluating the risks and costs of pension plan investments, given that plans have increased their reliance on riskier investments over the past few decades, according to a new report from two groups.

Stronger than expected tax revenue has narrowed outyear budget gaps for New York City, said city Comptroller Scott Stringer.

Recent improvements in airline profits are credit positive for airport bonds and may lead to increased capital investments, Well Fargo says.

The largest deal of the week, $900 million of Los Angeles County tax and revenue anticipation notes priced by JPMorgan on Wednesday, were instantly bought-up, market participants said.

A group of creditors led by bond insurers asked the federal judge overseeing Detroit's Chapter 9 bankruptcy to delay the confirmation trial by nearly two months, saying the city has failed to turn over key documents in a timely way.