News and Information from Bond Buyer

Connecticut's issuance of variable-rate remarketed obligations, or VROs, could set a national precedent, according to state Treasurer Denise Nappier.

The IRS completed an examination into $153 million of bonds issued by Miami in 2007 without a change in tax exempt status.

San Francisco's triple-A rated Bay Area Transit System is planning to sell $240 million of bonds next week to finance earthquake safety improvements throughout its facilities.

The tax-exempt market waited for a conference call from Puerto Rico officials discussing "legal opinions" related to issuance of its sales tax financing bonds as the general market saw little issuance in the primary light secondary trading.

Standard & Poor's Ratings Services said that it lowered its long-term rating on the village of Campbellsport, Wis.' series 2011 general obligation corporate purpose bonds and 2009 GO refunding bonds to BBB-minus from A-plus.

Kentucky's Louisville & Jefferson County Metropolitan Sewer District plans to sell $326 million of bonds and notes Wednesday, backed by Moody's new positive outlook.

Moody's Investors Service said it has downgraded the town of Stowe, Vt.'s issuer rating to Aa3 from Aa2.

Chicago plans more than $1.5 billion of borrowing next year but it will come at a higher cost due to credit deterioration over its pension woes, Chicago's chief financial officer Lois Scott warned council members.

Moody's left most California redevelopment bonds at junk after a review, unpersuaded by state government assurances that tax allocation bond debt service payments take precedence.

Orrick Herrington & Sutcliffe, the top bond counsel firm, is in merger talks with Pillsbury Winthrop Shaw Pittman. The move could stretch Orrick's lead in the public finance practice even further.

The New York City Council approved plans for a 630-foot observation wheel and outlet mall adjacent to the Staten Island ferry terminal.

The tax-exempt market took a breather Thursday morning, trading mostly flat after seven straight days of firming that pushed bond prices higher and yields lower by double digits.

The Treasury Department said Thursday it will auction $33 billion 91-day bills and $29 billion 182-day discount bills Monday.

Outflows among tax-exempt money market funds continued for a third consecutive week as $879.7 million exited the funds and total net assets fell to $262.78 billion.

The Indiana Public Retirement System (INPRS) is close to issuing two new investment consultant contracts, Mandate Pipeline reported this week.The board of trustees for the more than 28 billion retirement system based in Indianapolis, Ind. met on Oct. 25 and learned that its staff has plans to release consultant contract searches for private equity and absolute return. Strategic Investment Solutions and Aksia both currently hold the INPRS’s private equity and absolute return accounts that will be released Nov. 11.

Moody's Investors Service said it has upgraded Springfield, Mo.'s Board of Public Utility's senior lien revenue bond rating to Aa2 from Aa3 and subordinate lien 2006 lease obligation rating to Aa3 from A1.

The seasonally adjusted Milwaukee Report on Business gained to 57.1 in October from 55.0 in September, the Institute for Supply Management-Milwaukee reported Thursday.

The Chicago Purchasing Managers' Business Barometer gained to 65.9 in October, its highest level since March 2011, from 55.7 in September, the National Association of Purchasing Management-Chicago said Thursday.

Initial claims for U.S. state unemployment benefits were exactly as expected in the October 26 week, falling by 10,000 to 340,000, the Labor Department reported Thursday.

Indicator Last Report Forecast Actual CPI Aug.: +0.1% Sept.: +0.2% Sept.: +0.2% CPI Core Aug.: +0.1% Sept.: +0.2% Sept.: +0.1%