News and Information from Bond Buyer

The weight of Chicago's credit woes has driven a fresh round of downgrades for the Chicago Board of Education and Chicago Park District.

Mar. 17, 2014 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.2 1.25 2.77 4.06 Delaware Aaa/AAA/AAA 0.13 1.07 2.45 3.7 Maine Aa2/AA/AA 0.17 1.18 2.63 3.88 Maryland Aaa/AAA/AAA 0.15 1.09 2.47 3.72 Massachusetts Aa1/AA+/AA+ 0.19 1.19 2.66 3.94 New Hampshire Aa1/AA/AA+ 0.15 1.13 2.54 3.82 New Jersey Aa3/AA+/AA+ 0.21 1.27 2.8 4.07 New York Aa2/AA/AA 0.15 1.14 2.54 3.88 Pennsylvania Aa2/AA/AA 0.18 1.23 2.73 3.99 Rhode Island Aa2/AA/AA 0.2 1.34 2.86 4.14 Vermont Aaa/AA+/AAA 0.15 1.14 2.53 3.77 Dist. of Columbia Aa2/A+/AA+ 0.18 1.25 2.71 3.99 Puerto Rico Baa3/BB+/BBB- 7.45 8.39 8.72 7.42

3/14/2014 3/7/2014 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 4 $502,635 4 $422,380 $80,255 Delaware 0 0 0 0 0 Maine 3 13,581 4 24,065 -10,484 Maryland 4 191,080 5 189,385 1,695 Massachusetts 5 151,757 3 244,377 -92,620 New Hampshire 0 0 0 0 0 New Jersey 7 60,861 6 47,290 13,571 New York 13 332,575 10 1,027,061 -694,486 Pennsylvania 9 96,540 6 53,270 43,270 Rhode Island 1 34,750 0 0 34,750 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 0 0 1 3,000,000 -3,000,000

Monday, March 17 Issuer St Description Amount

Monday, March 17 Issuer St Description Amount

Week Of March 17 Issuer St Description Amount

Week Of March 17 Issuer St Description Amount

ALASKA

Day Indicator Last Report Forecast Monday Empire State Manufacturing Feb.: 4.48 March: 6.00 Monday Industrial Production Jan.: -0.3% Feb.: +0.1% Monday Capacity Utilization Jan.: 78.5 Feb.: 78.6 Monday NAHB Housing Index Feb.: 46 March: 50 Tuesday CPI Jan.: +0.3% Feb.: +0.1% Tuesday CPI Core Jan.: +0.1% Feb.: +0.1% Tuesday Housing Starts Jan.: 880,000 Feb.: 910,000 Tuesday Building Permits Jan.: 937,000 Feb.: 960,000 Wednesday Current Account Q3: -$94.8B Q4: -$88.0B Thursday Initial Claims 3/8: 315,000 3/15: 322,000 Thursday Cont. Claims 3/1: 2.855M 3/8: 2.865M Thursday Existing Home Sales Jan.: 4.620M Feb.: 4.610M Thursday Leading Indicators Jan.: +0.3% Feb.: +0.2% Thursday Philly Fed Manufacturing Feb.: -6.3 March: 3.8

Volume will decline to a little more than $3 billion this week as the market takes a breather after deals from Puerto Rico, California and Chicago inflated last week's pricing calendar.

New York MTA's Metro-North Railroad overemphasized on-time performance at the expense of rider safety, according to a blistering report by the Federal Railroad Administration.

Six months after first announcing a deal, bankrupt Detroit is still struggling to secure a key debtor-in-possession loan with Barclays.

A judge denied a challenge filed by San Jose Mayor Chuck Reed and other supporters of the Pension Reform Act of 2014, causing them to delay placing the measure on California's November 2014 ballot.

Wisconsin plans to come to market as soon as March 20 with nearly $400 million of new money and refunding transportation revenue bonds.

Los Angeles County Metropolitan Transportation Authority is undergoing a reorganization to shrink what a consultant's report called a "top heavy" executive structure, and Chief Financial Officer Terry Matsumoto is leaving.

Government

Municipal bonds remained firm in light of the biggest week of issuance to hit the market so far this year.

The credit of 155 local power companies would be negatively affected if the federal government severs ties with the TVA, according to Moody's.

Illinois finished out its last fiscal year with the worst overall net financial position of any state reviewed by the state auditor general after the release of the state's comprehensive annual financial report, or CAFR.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to AA from AA-minus on Campbell Union School District, Calif.'s outstanding bonds.