News and Information from Bond Buyer

Chicago-based Mesirow Financial elevated David Johnson to head of its public finance group, replacing Steve Hoopes.

State transportation departments face a $47 billion cut in federal funding in fiscal 2015 if Congress fails to shore up the Highway Trust Fund.

Mayor Bill de Blasio's preliminary contract agreement with the city's largest teachers union on Friday left out some key details, according to strategists who were trying to figure out how the plan will affect New York City financially.

Government

The Washington Higher Education Facilities Authority privately placed $34 million of bonds to fund construction projects at Saint Martin's University.

A federal decision is a credit positive for New York's nonprofit hospitals, said Moody's Investors Service.

Atlanta Mayor Kasim Reed has proposed a $1.9 billion spending plan for 2015, and the city is using social media to get the public involved with the budget process.

The board representing a major Detroit civilian retiree group board has voted in favor of supporting Detroit's proposed plan of adjustment.

Barclays Capital sees value in standalone Grant Anticipation Revenue Vehicle bonds now that yields have risen over concerns about potential shortfalls in U.S. highway funding.

Newport Beach, Calif.-based Minschler Financial Group, a service-disabled veterans firm, aims to expand its presence in public finance with the hire of municipal vet Rick Tilghman to the newly-created role of managing director, public finance.

Traders are looking at next week's largest deal $450 million Illinois State Toll Highway Authority Toll senior revenue bonds.

Water and sewer utilities bear a financial risk if hydraulic fracturing processes used in oil and gas production lead to contamination, according to a Fitch Ratings report Friday.

S&P cut the ratings on the bonds of Tuomey Healthcare System in South Carolina two notches, to CC from CCC, citing the hospital's plan to file for bankruptcy if it fails to prevail in a federal lawsuit.

The California Public Employees' Retirement System has filed a friend of the court brief in support of appeals to Detroit's eligibility to be in bankruptcy.

Municipalities struggling with fiscal distress need to be especially mindful of fulfilling their continuing disclosure obligations, regulators and analysts said Friday.

New York Comptroller Thomas DiNapoli released fiscal stress scores for Buffalo, Rochester, and Syracuse and 12 other New York cities and villages Friday.

Oregon's first general obligation bond sale of the year met strong demand last week, according to the state treasurer's office.

The Manhattan Institute for Policy Research launched a public pension calculator tool as part of its PublicSectorInc.org project.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA-plus from AA on Tulsa Metropolitan Utility Authority (TMUA), Okla.'s utility revenue debt.