News and Information from Bond Buyer

Municipal bonds weakened Wednesday morning after credit spreads at market closing time on Tuesday showed 10-year bonds were the most expensive in almost three years.

Veteran Chicago area municipal analyst Peter Fugiel, past chairman of the National Federation of Municipal Analysts and past president of the Chicago Municipal Analysts Society, has died.

The U.S. services sector expanded at a slightly slower pace in February as the non-manufacturing business activity composite index was 51.6 in the month, compared to 54.0 in January, on a seasonally adjusted basis, the Institute for Supply Management reported Wednesday.

The Houston suburb of Sugar Land is considering a convention center to accompany its planned $83 million entertainment center.

Moody's Investors Service on Feb. 28 revised its outlook from negative to positive on $3.02 billion in outstanding California Housing Finance Agency's home mortgage revenue bonds and affirmed a Baa2 rating on the bonds.

Hawaii Gov. Neil Abercrombie released $96.6 million for the construction of capital improvement projects at state airports.

Austin will buy up to 300 megawatts of wind energy for 18 years for $31 million per year under a recently approved contract.

ADP said it expects the private sector added 139,000 jobs in February, "well below" the average for the past 12 months.

Moody's Investors Service said it has downgraded to Baa1 from A3 the rating on the city of Miller, S.D., Electric Enterprise's revenue bonds.

Mar. 5, 2014 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.32 1.76 3.55 4.83 Indiana Aaa/AAA/AA+ 0.15 1.02 2.48 3.8 Iowa Aaa/AAA/AAA 0.15 1.03 2.47 3.79 Michigan Aa2/AA/AA 0.22 1.19 2.73 4.05 Minnesota Aa1/AA+/AA+ 0.15 0.98 2.42 3.73 Missouri Aaa/AAA/AAA 0.15 0.96 2.35 3.67 Nebraska NR/AAA/AA+ 0.17 1.09 2.56 3.87 North Dakota Aa1/AA+/NR 0.17 1.06 2.5 3.84 Ohio Aa1/AA+/AA+ 0.17 1.01 2.52 3.88 South Dakota NR/AA+/NR 0.17 1.1 2.58 3.9 Wisconsin Aa2/AA/AA 0.17 1.07 2.56 3.9

3/4/2014 2/25/2014 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 6 $837,510 9 $91,435 $746,075 Indiana 5 21,690 2 18,815 2,875 Iowa 8 119,375 5 108,465 10,910 Michigan 1 2,305 2 19,800 -17,495 Minnesota 10 83,770 10 92,410 -8,640 Missouri 5 434,045 2 27,955 406,090 Nebraska 0 0 0 0 0 North Dakota 1 4,490 0 0 4,490 Ohio 4 82,230 4 37,515 44,715 South Dakota 0 0 0 0 0 Wisconsin 6 38,665 6 30,045 8,620

Wednesday, March 5 Issuer St Description Amount

Wednesday, March 5 Issuer St Description Amount

Tuesday, March 11 Issuer St Description Amount

Week Of March 3 Issuer St Description Amount

ARKANSAS

IOWA

Moody's Investors Service delivered a sharp blow to Chicago's general obligation and sales tax rating Tuesday, dropping them down to Baa1 over the city's mounting unfunded pension woes that threaten its "fiscal solvency."

Triple-A general obligation bonds reached the most expensive level relative to Treasuries since 2011 as munis outperformed government bonds following signs of a pause in tension between Ukraine and Russia.