News and Information from Bond Buyer

Week Of February 3 Issuer St Description Amount

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Standard & Poor's downgraded Puerto Rico's general obligation bonds to a speculative rating, pointing to what it said was the commonwealth's limited liquidity.

The U.S. Treasury Department announced Tuesday that it will suspend the sales of State and Local Government Series securities on Friday at 12 p.m., eastern standard time.

Municipal bond yields remained steady to firmer Wednesday as an after-market downgrade of Puerto Rico bonds led traders to speculate on the impact of the inevitable.

Government

Placentia, Calif. is financially challenged, but not in immediate danger of declaring bankruptcy, city leaders say.

A bill recently introduced in the House would make permanent the Build America Bond program and also includes other bond-related items.

The Atlanta City Council has approved up to $975 in refunding bonds backed by general airport revenues and passenger facility charges.

A partially bond funded plan to build a $650 million hockey arena and entertainment district near downtown Detroit advanced Tuesday when the city council agreed to transfer 39 acres of public land to the project.

Convicted bid-rigger David Rubin should pay more than $11,5 million in restitution to 99 municipal victims who have not been compensated for losses they incurred due to "kickbacks" and depressed interest rates resulting from criminal activity, according to U.S. Justice Department filings with a federal court this week.

Standard & Poor's Ratings Services said it raised its underlying rating to A from A-minus on Yuma County Elementary School District No. 1, Ariz.'s general obligation bonds outstanding.

Allentown Mayor Ed Pawlowski withdrew from the Pennsylvania governor's race and backed state treasurer and fellow Democrat Rob McCord.

Illinois Gov. Pat Quinn wants to push back the scheduled Feb. 19 release of his fiscal 2015 budget until March 26.

Standard & Poor's Ratings Services said it lowered its long-term rating and underlying rating (SPUR) to A-plus from AA-minus on Maricopa County Unified School District No. 41 (Gilbert), Ariz.'s general obligation debt outstanding.

Moody's Investors Service downgraded Williston, N.D. to Baa2 from A3, and assigned a negative outlook, warning that the city, in the heart of the state's historic oil boom, faces significant infrastructure needs.

Gov. Tom Corbett on Tuesday proposed a $29.4 billion budget for Pennsylvania that included a renewed call to tweak the pension system for state employees.

With more than 16,000 brokers and financial advisors, Morgan Stanley is aiming to become the top municipal bond underwriter.

Standard & Poor's Ratings Services said it raised its long-term rating on Arlington Higher Education Finance Corp., Texas' series 2010A education revenue bonds, series 2010B education revenue and refunding bonds, and series 2010C taxable education revenue bonds issued for Arlington Classics Academy (ACA) to BB-plus from BB.