News and Information from Bond Buyer

Standard & Poor's Ratings Services said it has lowered its long-term rating on Connecticut Health & Educational Facilities Authority's series 2007B refunding bonds issued for University of Connecticut Foundation Inc. to A-plus from AA-minus.

The heavy political lifting to overhaul the governance structure of the Chicago region's transit system and improve its funding now begins following the release of a state transit task force recommendation that the current system be scrapped.

Standard & Poor's Ratings Services said it raised its rating on Oklahoma Development Finance Authority's separate series 2004 industrial development taxable revenue bonds, issued for the Michelin North America Inc. and The Goodyear Tire & Rubber Co. Projects, to A-plus from A, with a stable outlook.

New York State government approved a capital budget with a 34% increase in bond issuance in the coming year.

Investors are saying there is value in shorter-term bonds as the curve begins to flatten.

Moody's Investors Service said it has upgraded to Aa3 from A1 the rating on Big Spring School District, Pa.'s $8.8 million in outstanding general obligation debt.

Scheduled negative amortization of pension liabilities is very common, can be perpetually increasing and is often unrecognized by many pension stakeholders and municipal market participants.

Senate Finance Committee chairman Ron Wyden has proposed a bill to extend roughly 47 expired and expiring tax provisions, including four relating to bonds, governments, and Puerto Rico. Sens. Wyden and Orrin Hatch, the top Republican on the committee, have scheduled a vote on the proposed extender legislation for Thursday.

The Milwaukee Metropolitan Sewerage District lost its top rating from Moody's Investors Service based on the rating agency's new local government general obligation rating methodology.

The University of Connecticut intends to price $220 million of GO bonds, including $120 million for capital improvements under the UConn 2000 program.

The Florida Department of Transportation has opened its first public-private highway project - the $1.8 billion Interstate 595 Express Lanes in Broward County.

Moody's Investors Service said it has upgraded to A2 the underlying ratings on Creighton University's outstanding debt.

The Treasury Department Tuesday auctioned $25 billion of four-week bills at a 0.020% high yield, a price of 99.998444.

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.125% high yield, a price of 99.873611.

Nashville, Tenn.'s ratings were downgraded by Moody's after a credit review the agency started when it revised its methodology for analyzing GO credits.

Strategists are telling investors to start investing in low-credit Puerto Rico bonds again, if they have tolerance for some risk.

Texas service sector activity improved in March, according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index surged to 16.5 from 9.8.

Moody's Investor Services affirmed its Aa1 rating ahead of plans by the Montana Board of Housing to price $71.5 million in single family program bonds.

The overall economy grew for the fifty-eighth straight time, while the manufacturing sector expanded for the tenth consecutive month, the Institute for Supply Management reported Monday.

Construction spending rose 0.1% in February, the Commerce Department said, 8.7% above the February 2013 level.