News and Information from Bond Buyer

Columbia, S.C. Mayor Steve Benjamin, new chair of Municipal Bonds for America, talked about the importance of tax-exempt bonds Tuesday in a meeting between White House officials and members of the National Conference of Black Mayors.

New Jersey Gov. Chris Christie called for additional cuts to the state's pension benefits to prevent them from crowding out other government goals.

A new toll agreement provides $300 million of state financing for a North Texas Tollway Authority project.

An upgrade by S&P to the primary credit of New York's MTA — transportation revenue bonds — was welcome news to authority finance officials.

The Greater Orlando Aviation Authority in Florida will restart its search for a financial advisor as it embarks on a multi-billion capital program at Orlando International Airport.

New York Comptroller Thomas DiNapoli offered a mixed assessment of New York Gov. Andrew Cuomo's proposed budget.

The South Florida Bond Traders Association raised $20,000 for charities during its 2014 conference, the organization announced Feb. 24.

The Credit Union National Association honored Rhode Island Treasurer Gina Raimondo with the Desjardins Financial Literacy Award, citing her Empower RI initiative.

Rhode Island's Senate oversight committee chairman wants access to all depositions and exhibits related to the state's lawsuit against video-game company 38 Studios.

Texas service sector activity cooled in February, according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index fell to 9.8 from 18.1.

Service sector activity "remained generally modest" in February, according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "slowed" in February, according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index dropped to negative 6 in February from positive 12 in January.

The consumer confidence index decreased to 78.1 in February from a revised 79.4 last month, The Conference Board reported Tuesday.

As underwriting firms are squeezed on all sides in this competitive market, mergers and acquisitions offer a way to help manage some of the challenges, observers say.

The Treasury Department Tuesday auctioned $32 billion of two-year notes with a 1/4% coupon at a 0.340% yield, a price of 99.820762.

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.035% high yield, a price of 99.997278.

Moody's Investors Service downgraded St. Joseph's College, N.Y.'s issuer and Series 2010 bond ratings to Baa3 from Baa1.

Standard & Poor's Ratings Services said it lowered its underlying rating to A-minus from A-plus on Socorro, Texas' existing general obligation debt.

Standard & Poor's Ratings Services said it has raised its rating on Colleyville, Texas' series 2010 waterworks and sewer system revenue refunding bonds to AAA from AA-plus.