News and Information from Bond Buyer

Dec. 30, 2013 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA/AA 0.19 1.38 3.1 4.54 Delaware Aaa/AAA/AAA 0.15 1.23 2.75 4.19 Maine Aa2/AA/AA 0.19 1.3 2.89 4.31 Maryland Aaa/AAA/AAA 0.17 1.23 2.75 4.19 Massachusetts Aa1/AA+/AA+ 0.19 1.32 2.95 4.44 New Hampshire Aa1/AA/AA+ 0.19 1.32 2.89 4.34 New Jersey Aa3/AA+/AA+ 0.24 1.39 3.04 4.51 New York Aa2/AA/AA 0.21 1.29 2.85 4.35 Pennsylvania Aa2/AA/AA 0.17 1.35 3.02 4.45 Rhode Island Aa2/AA/AA 0.25 1.51 3.2 4.69 Vermont Aaa/AA+/AAA 0.17 1.28 2.81 4.24 Dist. of Columbia Aa2/A+/AA+ 0.22 1.44 3.12 4.67 Puerto Rico Baa3/BBB+/BBB- 7.17 9.13 9.85 8.94

12/27/2013 12/20/2013 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 0 $0 0 $0 $0 Delaware 0 0 0 0 0 Maine 0 0 0 0 0 Maryland 0 0 0 0 0 Massachusetts 3 99,007 2 87,252 11,755 New Hampshire 0 0 0 0 0 New Jersey 5 223,503 2 15,940 207,563 New York 3 23,502 1 22,500 1,002 Pennsylvania 2 33,080 1 25,000 8,080 Rhode Island 0 0 0 0 0 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 0 0 0 0 0

Detroit's pension funds Thursday asked a federal circuit court to allow an expedited appeal of the bankruptcy court's recent ruling that the city is eligible for Chapter 9 and that its pensions can be cut, saying the case has national implications that warrant a speedy review.

Mark Schwartz, who represented the Harrisburg City Council in its failed bankruptcy filing, is suing Pennsylvania's capital city for nonpayment.

The market for tax-exempt municipal bonds weakened Friday following a weeklong softening in Treasuries. Activity picked up with traders returning from holiday but remained low overall, traders said.

Government

Providence, R.I., fire and police unions have sued Rhode Island's capital city, saying the city didn't factor longevity payments in calculating overtime pay.

The Securities and Exchange Commission's enforcement division will be very active in the muni space in 2014, experts said, with emphasis on actions against municipal officials and underwriters.

New York City has issued a request for expressions of interest to identify financing partners for the city's first wetland mitigation bank, on Staten Island.

The Internal Revenue Service approved tax exemption for bonds issued by the PSEG-run Long Island Public Authority.

Fitch Ratings said it may downgrade the ratings on Sacramento City Unified School District, ahead of its $40 million refunding bond deal.

Muni bond funds that report flows weekly recorded outflows of $1.49 billion for the week of Dec. 25, down from $1.71 in the week prior, Lipper FMI numbers showed.

The Puerto Rico Government Development Bank has sold $110 million in notes to a public corporation in a step to increase its liquidity.

The tax-exempt municipal market showed soft pockets along the yield curve on Friday as some traders returned from the holiday. Activity overall remained low, traders said.

The Idaho Housing and Finance Association plans to price the final $82 million of a multi-year series totaling $857 million in grant anticipation revenue vehicle bonds on Jan. 14, amid concern that the Highway Trust Fund that provides subsidies might be unsustainable.

Massachusetts can claim good public relations and possibly a moral high ground with its enhanced disclosure initiatives, but what tangible benefits do they bring?

Municipal bond market participants, on guard against proposals to limit or eliminate the tax exemption, doubt 2014 will bring comprehensive tax reform.

Standard & Poor's Ratings Services said it raised its rating on Ellsworth County, Kan.'s outstanding general obligation debt to AA-minus from A-plus, based on the application of our new local GO criteria.

There are no municipal bond sales scheduled for negotiated sale next week, versus a revised $17.0 million that were sold this week.

Standard & Poor's Ratings Services said it has raised its underlying rating on Pen Argyl Municipal Authority, Pa.'s series 2012 and 2013 insured guaranteed sewer revenue general obligation bonds by one notch to A-plus from A.