News and Information from Bond Buyer

A proposed 47-mile toll road linking Indiana and Illinois is eligible for a federal TIFIA loan that could reduce construction costs by up to 20%, officials said.

Once known as "Little Detroit," the small city of Connersville has declared a financial emergency, warning it might not have enough money to make payroll by May.

Standard & Poor's Ratings Services said it lowered its rating to BBB from A-minus on Everett Public Facilities District, Wash.'s series 2007A and 2007B limited sales tax and interlocal revenue bonds.

The Chicago Infrastructure Trust will open a search Wednesday for investors to finance energy efficiency upgrades at Chicago's public swimming pools.

Puerto Rico and California general obligation bonds that sold last week amid high demand softened in secondary trading Monday.

Puerto Rico Gov. Alejandro García Padilla repudiated a bill to guide possible future restructurings of Puerto Rico public corporation finances, saying the proposal ran counter to the administration’s efforts to rebuild the economy.

Moody's Investors Service said it has assigned a Aa3 underlying rating to Danville Area School District, Pa.'s $6.4 million general obligation bonds, Series 2014, and upgraded to Aa3 from A1 the underlying rating on $25.3 million of outstanding debt.

Record ridership is just one of several credit positives for public transit agencies, Moody’s Investors Service said Monday.

Michigan lawmakers passed a $330 million mid-year 2014 budget supplemental bill last week that features more road money for local governments hit hard by the harsh winter.

Despite a sharp drop in refunding opportunities for many issuers, Phoenix expects to see savings of 9.8% or $14.2 million from a $132 million deal this week.

Hartford's two-notch rating upgrade from S&P reflects prudent budgeting and could portend better days in Connecticut's capital, said the city's treasurer.

The municipal market this week is back to the low supply figures that characterized the market in January and February, but some say the size of the bond issue isn't exactly what counts.

The Municipal Securities Rulemaking Board on Monday proposed to amend its rule on professional qualifications to cover municipal advisors and require them to take a test as soon as next year.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were unchanged, as the three-months incurred a 0.050% high rate, unchanged from 0.050% the prior week, and the six-months incurred a 0.080% high rate, unchanged from 0.080% the week before.

The Treasury Department said Monday it will sell $35 billion of four-week discount bills Tuesday.

Virginia Gov. Terry McAuliffe called a special session for March 24 because the House and Senate were unable to agree on a state budget or expanding Medicare.

Moody's Investors Service has downgraded to Aa2 from Aaa the rating on Orange County, N.Y., $268.5 million outstanding general obligation debt.

Builders' confidence in the market for new single-family homes grew as the National Association of Home Builders' housing market index rose to 47 in March from 46 in February.

Industrial production rose 0.6% in February, the Federal Reserve reported Monday.

The Empire State Manufacturing Survey showed "business conditions continued to improve for New York manufacturers, though activity grew slowly," in March, the Federal Reserve Bank of New York reported Monday as the general business conditions index rose to 5.61 in March from 4.48 in February.