News and Information from Bond Buyer

Nearly a quarter of Detroit's buildings suffer from blight, and it would take $2 billion to fix the problem across the city, according to a report released Tuesday.

Moody's Investors Service said it has downgraded to A2 from A1 the rating assigned to Heritage Valley Health System, Pa.'s (HVHS) bonds issued by the Beaver County Hospital Authority.

Moody's upgraded Charleston County School District, S.C.'s general obligation debt to Aa1 from Aa2 citing its strong financial position.

Deals scheduled to come to market during the shortened four-day week following Memorial Day may be priced cheaper, market participants said.

Moody's Investors Service has downgrade Hastings College of the Law to A2 from A1.

Connecticut will save nearly $95 million over 11 years from its $822 million general obligation refinancing, said Treasurer Denise Nappier.

Moody's Investors Service said it has upgraded to Aa3 from A1 the ratings on the Metropolitan Atlanta Rapid Transit Authority's (MARTA) $1.7 billion of outstanding third indenture sales tax revenue bonds.

New York City plans to price $850 million of tax-exempt, fixed-rate refunding bonds on June 11 after a two-day retail order period.

U.S. government grants to states for federal fiscal 2014 are about 18% higher overall, after adjusting for inflation, than in fiscal 2008, with most of the gain attributable to health care and losses in the transportation and education sectors, according to an analysis released Tuesday by the Pew Charitable Trusts.

The Internal Revenue Service has extended by two years the period in which an education nonprofit can spend the proceeds of qualified school construction bonds.

The Illinois General Assembly entered the final week of its spring session with the Democratic leadership focused on a budget that doesn’t rely on revenue from an expiring tax hike but also lacks deep cuts rejected by the House last week.

New Orleans, La., saw a 9.6% increase in sales tax revenues in 2013 thanks largely to growth in population and tourism, and efforts to attract new business

Wayne County, Mich. plans to erase a major chunk of its deficit by shifting more money than expected from its delinquent property tax fund, while it faces a lawsuit challenging the county’s struggling pension fund.

The Massachusetts Water Pollution Abatement Trust plans a $561.24 million refunding sale of state revolving fund bonds.

The Treasury Department Tuesday auctioned $31 billion of two-year notes with a 3/8% coupon at a 0.392% yield, a price of 99.966254.

Chicago hits the market Thursday with $784 million of new-money and refunding Midway Airport bonds that will nearly wrap up a restructuring aimed at strengthening its debt portfolio.

With approval of $775 million of bonds in hand, the Frisco Independent School District is moving quickly with plans to build 14 schools.

Standard & Poor's Ratings Services said it has raised its rating on Katy, Texas' general obligation bonds one notch to AAA from AA-plus.

Tender rates for the Treasury Department's latest 91-day and 183-day discount bills were mixed, as the three-months incurred a 0.030% high rate, up from 0.025% the prior week, and the six-months incurred a 0.050% high rate, unchanged from 0.050% the week before.

The Treasury Department said Tuesday it will sell $45 billion of four-week discount bills Wednesday.