News and Information from Bond Buyer

Groundbreaking for new U.S. home construction slipped in February, dipping 0.2% to a seasonally adjusted annual rate of 907,000 units as building permits surged 7.7% to an annual rate of 1.018 million units, according to Commerce Department data released Tuesday.

Moody's Investors Service said it upgraded the California Department of Water Resources (CA DWR) power supply revenue bond rating to Aa2 from Aa3, impacting approximately $6.6 billion of outstanding debt.

Moody's Investors Service said it has downgraded its ratings on New Mexico State University's revenue bonds to Aa3 from Aa2.

Moody's Investors Service said it has downgraded Gresham-Barlow School District, Ore.'s, general obligation bonds to Aa3 from Aa2.

Indicator Last Report Forecast Actual Empire State Manufacturing Feb.: 4.48 March: 6.00 March: 5.61 Industrial Production Jan.: -0.2% Feb.: +0.1% Feb.: +0.6% Capacity Utilization Jan.: 78.5 Feb.: 78.6 Feb.: 78.8 NAHB Housing Index Feb.: 46 March: 50 March: 47

Mar. 18, 2014 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.2 1.27 2.73 4.02 Arkansas Aa1/AA/NR 0.15 1.13 2.52 3.77 Colorado Aa1/AA/NR 0.17 1.2 2.64 3.91 Kansas Aa1/AA+/NR 0.15 1.13 2.56 3.82 New Mexico Aaa/AA+/NR 0.15 1.11 2.54 3.81 Oklahoma Aa2/AA+/AA+ 0.17 1.22 2.64 3.91 Texas Aaa/AAA/AAA 0.15 1.09 2.48 3.73 Utah Aaa/AAA/AAA 0.15 1.07 2.42 3.67

3/17/2014 3/10/2014 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 8 $238,925 3 $169,890 $69,035 Arkansas 5 30,635 2 8,130 22,505 Colorado 5 122,720 4 71,255 51,465 Kansas 2 7,025 2 8,395 -1,370 New Mexico 1 9,275 0 0 9,275 Oklahoma 13 117,250 6 29,725 87,525 Texas 32 498,846 25 1,775,218 -1,276,372 Utah 1 50,000 2 48,240 1,760

Tuesday, March 18 Issuer St Description Amount

Tuesday, March 18 Issuer St Description Amount

Week Of March 17 Issuer St Description Amount

Week Of March 17 Issuer St Description Amount

IOWA

ILLINOIS

More Illinois school districts struggled financially in their last fiscal year, according to the Illinois Board of Education's latest financial profiles report.

Bond insurer Financial Guaranty Insurance Company has asked the bankruptcy court overseeing Detroit's Chapter 9 to allow it to intervene in a city lawsuit that attempts to repudiate $1.4 billion of pension certificate debt.

The New York City Municipal Water Finance Authority intends to sell $480 million of refunding bonds on March 25 after a one-day retail period.

Municipal bond issuance at decade lows my prevent tax season from driving down demand for bonds in March and April.

Government

As Mississippi legislative session winds down, the state's first debt study will guide lawmaker on bond financing decisions, said State Treasurer Lynn Fitch.

The Chicago Park District criticized Moody's Investors Service on for its latest downgrade, arguing the agency pays too much attention to the district's links with the city of Chicago and not enough to its fiscal strengths including recent pension reforms. Chicago Public Schools were also downgraded.