News and Information from Bond Buyer

The sentencing of CDR Financial Products founder David Rubin for his role in muni bond bid-rigging has been postponed from Thursday to 11 a.m. Friday in New York.

Government

New York City should have at least a blueprint for settling expired labor contracts by the end of the fiscal year, city Comptroller Scott Stringer told a City Council committee.

The Los Angeles Department of Water and Power doesn't expect to completely work through problems associated with a new computer billing system that resulted in revenue shortfalls until year end.

Georgia plans to begin dredging Savannah Harbor even though President Obama's 2015 budget failed to include federal construction funds for the project.

Long-term Puerto Rico bonds touched the lowest yields in as much as six months Wednesday as the island's debt curve remains inverted ahead of a $3.5 billion bond issue.

Moody's Investors Service's decision to drop Chicago out of the A rating category over its pension woes strikes at both its credit and reputation, market participants said Wednesday

President Obama will ask Congress in his fiscal 2015 budget proposal for $2.5 billion in transit grants for 26 projects in 16 states.

Democrats and Republicans could find common ground on business tax reform and infrastructure investment, Treasury Secretary Jack Lew said at a Senate Finance Committee hearing Wednesday.

The Irvine, Calif.-based Transportation Corridor Agencies has placed Chief Executive Officer Neil Peterson on leave after a dust-up involving contract approvals.

The funding level for state-sponsored defined benefit retirement systems increased to 75% in 2013 from 72% the previous year, Wilshire Consulting reported on Wednesday.

Moody's Investors Service said it has upgraded its rating on Birmingham-Southern College, Ala.'s revenue bonds to B3 from Caa1.

Colorado approves a $490 million public-private partnership to redevelop U.S. 36, but a Boulder group renews its threat of a lawsuit.

New bond issues were the focus of market participants Wednesday as municipal bonds followed Treasury weakening.

Standard & Poor's, citing its local GO criteria, raised its rating on Boston's general obligation bonds to AAA from AA-plus,

The full Massachusetts Senate on Thursday is expected to debate a five-year transportation borrowing bill that has risen to $13.2 billion.

A higher cap for federally allocated tax-exempt private activity bonds could make state transportation P3 projects more attractive to investors.

The economy continued to improve modestly to moderately through early February, although weather dampened activity, according to the Beige Book, released by the Federal Reserve on Wednesday.

The Florida Legislature considers several bond-related bills this year, including one requiring cities to get voter's OK for all debt sales over $50 million.

Standard & Poor's Ratings Services said it lowered its long-term and underlying rating on the District of Columbia's $293 million revenue bonds issued for Howard University to BBB-plus from A-minus.