News and Information from Bond Buyer

Lowell Kalapa, 64, the longtime executive director of the nonprofit Tax Foundation of Hawaii, died Dec. 30.

Empty desks and some 11th-hour tax-swap bids ensured that the municipal bond market would close the year's last trading day with a whimper.

Fitch Ratings has assigned an AAApre rating with a negative watch to $2.3 billion Foothill/Eastern Transportation Corridor 1999 revenue series bonds that are being pre-refunded using the proceeds of a refinancing of the bonds conducted earlier this month.

Standard & Poor's placed nearly $1 billion of certificates of participation for four transit systems on its watch list Monday based on its new ratings criteria.

As Detroit gears up to file its plan of adjustment this month in its historic bankruptcy case, the chief mediator in the case ordered the city Tuesday to meet with bondholders in a series of mediation sessions next week.

Puerto Rico's population shrank by 1% in the year ending July 1, continuing a trend cited as a credit negative.

Standard & Poor's lowered its ratings to A from A-plus on the Alabama Public Housing Finance Corp.'s 2003B bonds citing reduced federal funding.

Embattled New York City Housing Authority chairman John Rhea resigned days before new Mayor Bill de Blasio was expected to replace him.

Jefferson County, Ala., is out of municipal bankruptcy but appeals of the bankruptcy plan and criminal prosecutions will keep the county in the spotlight.

Investors looking to execute some last-minute tax-swaps constitute much of the action in a holiday-shortened session on the last day of 2013.

Texas service sector activity strengthened in December, according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index grew to 16.0 from 11.4.

Rebecca Harrigal, the new director of the Internal Revenue Service's tax-exempt bond office, said one of her goals is to streamline and improve the closing agreement or settlement process.

The consumer confidence index increased to 78.1 in December from a revised 72.0 last month, The Conference Board reported Tuesday.

The Chicago Purchasing Managers' Business Barometer dipped to 59.1 in December from 63.0 in November, the National Association of Purchasing Management-Chicago said Tuesday.

Standard & Poor's Ratings Services said it has lowered its issuer credit rating on Houston Housing Authority (HHA) by one notch to A-plus from AA-minus.

Moody's Investors Service said it downgraded San Miguel Consolidated Fire Protection District, Calif.'s series 2003 lease revenue bond rating from A1 to A2.

Indicator Last Report Forecast Actual Pending Home Sales Oct.: -1.2% Nov.: +1.0% Nov.: +0.2%

Dec. 31, 2013 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.27 1.49 3.09 4.52 Arkansas Aa1/AA/NR 0.17 1.27 2.87 4.3 Colorado Aa1/AA/NR 0.19 1.38 2.99 4.45 Kansas Aa1/AA+/NR 0.18 1.34 2.95 4.43 New Mexico Aaa/AA+/NR 0.17 1.29 2.89 4.34 Oklahoma Aa2/AA+/AA+ 0.19 1.39 2.99 4.44 Texas Aaa/AAA/AAA 0.17 1.26 2.81 4.26 Utah Aaa/AAA/AAA 0.17 1.24 2.77 4.2

12/30/2013 12/23/2013 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 4 $339,880 5 $344,865 -$4,985 Arkansas 0 0 0 0 0 Colorado 1 12,000 1 12,000 0 Kansas 0 0 0 0 0 New Mexico 0 0 0 0 0 Oklahoma 1 5,000 1 5,000 0 Texas 16 535,331 14 313,536 221,795 Utah 0 0 0 0 0

Thursday, January 2 Issuer St Description Amount