News and Information from Bond Buyer

New York City Comptroller John Liu, in his final state of the city speech, said his audit bureau uncovered nearly $1 billion that belongs to New Yorkers.

A group of non-dealer advisors on Wednesday released a guide for issuers and municipal advisors, saying it is designed to clear up misconceptions about the Securities and Exchange Commission's municipal advisor rules.

Bond insurers aren't likely to see rating changes as a result of municipal bankruptcies, though some may be refining their practices, Standard & Poor's said.

New York's Metropolitan Transportation Authority approved a $13.5 billion budget and four-year plan, but tabled a $25 million proposal for service restoration.

Gina Raimondo, Rhode Island's general treasurer the past three years and the architect of pension overhaul legislation in that state, will run for governor in 2014.

The Federal Reserve will "modestly reduce the pace of its asset purchases," and beginning in January will buy longer-term Treasuries at a rate of $40 billion per month and mortgage-backed securities at a rate of $35 billion per month, the Federal Open Market Committee said in a statement released Wednesday following the committee's two-day meeting.

Standard & Poor's Ratings Services said it lowered its rating to A on Connecticut Health & Educational Facilities Authority's series F bonds issued for Lawrence & Memorial Hospital (L&M).

2015 remains the year most members of the Federal Reserve board members and bank presidents expect monetary policy tightening, according to the Fed's latest summary of economic projections released Wednesday.

Standard & Poor's Ratings Services said it lowered its rating on Jefferson County, Ala.'s series 2004A, 2005A-1, 2005A-2, 2005A-3, 2005A-4, and 2005B warrants to D from B.

The federal bankruptcy court judge overseeing Detroit's historic Chapter 9 filing pressed the city Wednesday for more information on its strategy behind the decision to negotiate a settlement with interest-rate swap counterparties.

Moody's Investors Service has upgraded more than $600 million of outstanding bonds issued by the Northern California Power Agency.

Miami-Dade County will help former soccer star David Beckham and his investors search for a stadium in hopes of getting a Major League Soccer franchise.

Standard & Poor's Ratings Services said it has lowered its issuer credit rating on Martin County School District, Fla. one notch to A-plus from AA-minus with a negative outlook.

Standard & Poor's Ratings Services said it lowered its long-term and underlying rating to BBB from A on Denair Unified School District, Calif.'s existing general obligation debt.

Municipal bonds softened Wednesday and Treasuries yields rose as market participants feared the Federal Open Market Committee meeting would result in a tapering announcement.

The Treasury Department auctioned $35 billion of five-year notes, with a 1 1/2% coupon, a 1.600% high yield, a price of 99.521314.

Moody's Investors Service changed the outlook on New Jersey's debt to negative from stable.

A new plan says most of the $4.39 billion needed to finish the Atlanta BeltLine can be done with bonds, government funds, donations and public-private partnerships.

The municipal bond market was silent Wednesday morning as traders prepared for the much-anticipated announcement by the Federal Open Market Committee meeting at 2 p.m.

November housing starts were reported at 1.091 million, up 22.7% on the month. October was reported at 889,000, and September at 873,000, all better than expected.