News and Information from Bond Buyer

Two ratings agencies have downgraded the Beaumont Independent School District, Texas in the midst of state and federal criminal investigations.

New York City business activity grew at a slower pace in February, as the current business conditions index dropped to 57.0 from 64.4 in January, the Institute for Supply Management-New York's Report on Business index, released Tuesday, indicated.

The Federal Reserve will raise interest rates in the middle of next year, Federal Reserve Bank of San Francisco President John Williams predicted, and suggested verbal forward guidance should replace numerical guidance.

Mar. 4, 2014 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.2 1.18 2.67 4.04 Arkansas Aa1/AA/NR 0.15 1.06 2.5 3.82 Colorado Aa1/AA/NR 0.17 1.12 2.62 3.95 Kansas Aa1/AA+/NR 0.15 1.04 2.51 3.86 New Mexico Aaa/AA+/NR 0.15 1.04 2.52 3.86 Oklahoma Aa2/AA+/AA+ 0.17 1.15 2.62 3.96 Texas Aaa/AAA/AAA 0.15 1 2.44 3.81 Utah Aaa/AAA/AAA 0.15 1 2.4 3.72

3/3/2014 2/24/2014 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 2 $33,270 3 $40,970 -$7,700 Arkansas 1 7,620 4 83,175 -75,555 Colorado 5 88,825 4 74,265 14,560 Kansas 5 14,365 2 3,560 10,805 New Mexico 1 13,585 3 92,195 -78,610 Oklahoma 17 57,020 22 139,165 -82,145 Texas 23 1,451,289 38 920,304 530,985 Utah 1 10,000 1 90,000 -80,000

Tuesday, March 4 Issuer St Description Amount

Tuesday, March 4 Issuer St Description Amount

Tuesday, March 11 Issuer St Description Amount

Week Of March 3 Issuer St Description Amount

KANSAS

FLORIDA

Indicator Last Report Forecast Actual Personal Income Dec.: unch Jan.: +0.2% Jan.: +0.3% Consumption Dec.: +0.1% Jan.: +0.1% Jan.: +0.4% Core PCE Dec.: +0.1% Jan.: +0.1% Jan.: +0.1% Construction Spending Dec.: +1.5% Jan.: -0.5% Jan.: +0.1% ISM Manufacturing Jan.: 51.3 Feb.: 52.0 Feb.: 53.2

Government

Detroit has reached a new settlement with its interest-rate swap counterparties that could significantly boost its efforts to pursue a cramdown plan of adjustment if necessary.

If the bond provisions in House Ways and Means Committee Chairman Dave Camp's tax reform proposal are implemented, the municipal market could become "bifurcated," experts say.

Standard & Poor's has taken the Long Island Power Authority off of credit watch negative but has retained a negative outlook on its A-minus rating.

Moody's dropped the GO bond rating of the Commerce City School District, Ga., three notches to Baa1 from A1 citing its negative fund balance and depleted reserves.

Fears of escalating tension between Russia and Ukraine pushed U.S. Treasury yields lower Monday, aiding a rally in munis as buyers looked for safe investments.

The Illinois Supreme Court ordered that four pending lawsuits challenging the legality of the state's pension overhaul be consolidated and handled by the Sangamon County Circuit Court.

Philadelphia's mayor plans to sell the city's public gas works, defeasing the works bond debt in the process and raising money for the city's pension fund.