News and Information from Bond Buyer

Leaders on the Senate Environment and Public Works committee said they reached an agreement on principles for a surface transportation reauthorization bill and suggested funding could be raised through tax reform.

Moody's Investors Service hit Milwaukee with a one-notch downgrade to Aa3 following a review prompted by its change in local government general obligation methodology earlier this year.

The Washington State Housing Finance Commission is helping victims displaced by the recent mudslide by speeding up the process of applying for housing.

KeyBanc Capital Markets Inc. has hired Mark Fisher to serve as a managing director in its public finance group, overseeing business in Ohio and Michigan.

The Harris County-Houston Sports Authority plans to pay off $125 million of variable-rate bonds whose payments were accelerated in the wake of the 2008 financial collapse.

Four retired Chattanooga, Tenn., police and firefighters attempting to block recent pension reform measures filed suit against the city and pension fund.

A comprehensive bill introduced by California Sen. Darrell Steinberg seeks to resolve some of the thornier issues involved in winding down redevelopment agencies including what to do about $1.5 billion of bonds issued in 2011 that are stuck in limbo.

Market participants believe Detroit's settlement with three bond insurers Wednesday is a breakthrough in the city's bankruptcy proceedings, even though it is not final and leaves many questions unanswered.

The federal government ran a $36.9 billion deficit in March, the Treasury Department reported Thursday.

Chicago-based William Blair & Co. is bolstering its sales and trading group in Chicago and California and making a push into the Los Angeles market with a new office staffed with veterans from De La Rosa & Co. led by Christopher Tota.

The Treasury Department Thursday auctioned $13 billion of 29-year 10-month bonds with a 3 5/8% coupon at a 3.525% high yield, a price of 101.829866.

Brown Brothers Harriman & Co. launched a fund designed to avoid risk, protecting investors’ capital by focusing on high-grade intermediate maturities.

Fitch Ratings has upgraded the rating on the Richmond Metropolitan Authority, Va.'s approximately $94.8 million in outstanding expressway toll revenue bonds to A from A-minus.

Trading in the municipal market picked up Thursday after a slow week, traders said, as new deals were met with strong demand and secondary bonds traded firmer.

Standard & Poor's said it raised its long-term rating to AA-minus from A-plus on the Philadelphia Authority for Industrial Development, Pa.'s $4.993 million series 2009 fixed rate bonds issued for the Educational Commission for Foreign Medical Graduates.

Municipal bonds firmed Thursday morning even as the U.S. government announced jobless claims in the week ended April 5 plunged by the most in at least 10 years.

The Treasury Department said it will auction $18 billion five-year inflation-indexed notes on Thursday, April 17.

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

*Update: S&P downgrades New Jersey to A-plus (April 9)

New Jersey's general obligation rating was cut to A-plus from AA-minus by Standard & Poor's, which cited the state's "sizable structural imbalance."