News and Information from Bond Buyer

Asset managers may have to register as municipal advisors to protect themselves from violating the Securities and Exchange Commission's MA rule, which places restrictions on advice concerning muni bond proceeds and other financial products commonly used by states and localities.

Moody's Investors Service downgraded Manchester-Boston Regional Airport, N.H., revenue bonds to Baa1 from A3

Moody's Investors Service has downgraded to A3 from A2 the rating on Fred Hutchinson Cancer Research Center in Seattle.

Standard & Poor's Ratings Services said it raised its rating to AA-plus from AA on the Regional Transportation Authority of Pima County, Ariz.'s transportation excise tax revenue bonds (Pima County Public Transportation Fund).

Standard & Poor's Ratings Services said it raised its long-term rating on Merton Community School District, Wis.' outstanding general obligation debt to AA from AA-minus.

Michigan could see nearly $1 billion less than it expected over the next three years, fiscal officials warned Thursday.

Moody's Investors Service upgraded the ratings on University of La Verne, Calif. a notch to Baa1 with a stable outlook affecting $88.4 million in debt.

The Minnesota House was expected to vote on a $1.1 billion capital budget that primarily relies on general obligation borrowing.

Municipal bonds rallied for the third straight day Thursday as supply remained light.

The years Honolulu officials invested in its $5.2 billion elevated rail project are paying off, while Los Angeles officials are fighting for a funding arrangement they say is needed for their rail plans to reach fruition.

The Financial Industry Regulatory Authority censured and fined broker-dealer Tradition Asiel Securities, Inc. $20,000 for municipal trade reporting violations in a report that fails to mention $110,000 fines for other recent similar violations under “relevant disciplinary history.”

A sales tax hike in Missouri to bolster transportation funding is headed to the November ballot.

Ziegler is expanding its general municipal and structured finance practice with the addition of three muni veterans from Stern Brothers & Co. The firm has added Miyun Cho, Terri Smalinsky and Aaron Gadouas as managing directors to be based in Ziegler's Chicago office.

Senate Environmental and Public Works Committee gave its unanimous approval to six-year bill authorizing $242 billion of federal highway funding.

The Treasury Department said it will auction $13 billion 9-year 8-month inflation-protected notes on Thursday, May 22.

The Treasury Department said Thursday it will auction $25 billion 91-day bills and $23 billion 182-day discount bills Monday.

Municipal bonds in the intermediate and long parts of the curve continued to rally on Thursday morning, as their yields declined for the third straight day.

Unfunded pension liability is on the back burner in Pennsylvania's primary while business consultant and actuary Richard Dreyfuss joins others warning about a problem that has bond rating agencies on the alert.

Tax-exempt money market funds reported outflows of $1.19 billion in the week ended May 12, cutting total net assets to $257.73 billion according to The Money Fund Report, a service of iMoneyNet.com.

The region's manufacturing sector expanded at a slower pace in May, as the general business conditions index slipped to 15.4 from 16.6 in April, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.