News and Information from Bond Buyer

Standard & Poor's and Fitch Ratings have downgraded a health care system with hospitals in Oregon, Washington, and Alaska, ahead of its $108 million refunding deal.

Rules that will force municipalities to report net pension liability could spawn credit downgrades in Pennsylvania, said pension expert Richard Dreyfuss.

Federal Reserve Chair Janet Yellen said the central bank is likely to keep trimming asset purchases, even as policy makers monitor data to determine if recent weakness in the economy is temporary.

Detroit Mayor Mike Duggan, in his first state of the city address, said the foundation has been laid for Detroit's revitalization as it moves through its historic Chapter 9 bankruptcy.

Justice Department lawyers have filed new documents to support their argument that convicted bid-rigger David Rubin should face a stiff penalty for his crimes because the kickbacks he received as part of the scheme caused real loss to municipal issuers.

Sales of municipal bonds in the Far West bucked the national trend in 2013 by rising from 2012, as new money swapped with refundings as the market driver in the region.

New York local sales tax collections were up 5.2% in 2013 compared to 2012.

The largest deal this week, $227 million of Connecticut general obligation bonds, came to the competitive market Thursday, as bond traders anticipated some relief from thin market issuance.

The Treasury Department auctioned $29 billion of seven-year notes, with a 2% coupon, a 2.105% high yield, a price of 99.319903.

Municipal bonds firmed Thursday morning following a report by the government that showed persisting economic woes.

The Treasury Department said it will auction $20 billion 66-day cash management bills on Feb. 28.

The Treasury Department said it will auction $25 billion year bills on March 4.

The Treasury Department said Thursday it will auction $25 billion 91-day bills and $25 billion 182-day discount bills Monday.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "was slightly positive, and although producers' expectations moderated somewhat they remained at solid levels overall," according to the bank's monthly manufacturing survey, released Thursday.

MBTA Retirement Fund officials defended the secretive practices of the $1.6 billion fund, which manages the retirement accounts of Boston-area transit employees.

Tax-exempt money market funds recaptured more than half of last week's loss as they gained $1.29 billion in new cash, boosting total net assets to $269.33 billion.

Federal Reserve Board Chair Janet Yellen repeated to the Senate Banking Committee the testimony she initially gave to the House on February 11.

The Los Angeles economy is improving, but the city still anticipates a $242 million deficit for fiscal 2014-15, according to presentations made at the city's investor conference held Wednesday at Universal Studios in Hollywood.

The seasonally adjusted Milwaukee Report on Business slid to a contractionary 48.6 in February from 52.8 in January, the Institute for Supply Management-Milwaukee reported Thursday.

Initial jobless claims climbed 14,000 to 348,000 in the week ended February 22, the Labor Department said Thursday.