Capital markets

City officials say the round of assignments for bond counsel and special disclosure counsel includes larger and smaller, minority-owned law firms.

The pension funding problems reflect several decades of underpayments, said Rep. Jonathan Steinberg, who chairs a commission formed to tackle the problem.

A negotiated transaction may help Maine limit the yield penalty from Gov. Paul LePage's last-minute cancellation of the sale last month.

S&P Global Ratings lowered the Connecticut city to BBB-plus from A-minus, and Fitch Ratings dropped the city to BBB from A-minus.

The Ohio-based operator is acquiring the operations of HCR ManorCare.

The upgrade comes ahead of a $619 million bond sale.

Banker David Schott has joined Stern Brothers' New York office.

During the new issue pricing period is when institutions place their orders. Independent advisors and their clients are wise to follow the money.

The Central Basin Municipal Water District was downgraded three notches to Baa1 by Moody's, which assigns a negative outlook.

Moody's changed the outlook on its Aa3 rating to positive from stable.

Illinois' 10-year GO paper is trading 10 to 15 basis point tighter than before its rating outlook went to stable from negative.

S&P Global Ratings boosted Michigan's general obligation bonds to AA from AA-minus.

Moody's revised the outlook on $3 billion of Chicago parks, water and sewer bonds to stable.

Illinois' Baa3 rating remains one notch above junk, but the outlook is now stable, up from negative.

Sterling National Bank has a new municipal group focused on an array of non-public financing services during a time when loans to bond issuers are on the decline.

Moody's upgraded the bonds issued to build the Mets' Citi Field while boosting its outlook for Yankee Stadium bonds.

Bond insurers and legal counsel battled for share of a smaller market as Assured Guaranty and Orrick Herrington & Sutcliffe LLP stayed atop the rankings.

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Luke Bronin, in an interview at the Brookings Municipal Finance Conference, said Connecticut's capital city is "in a stronger position than we’ve been in a long time."

Fitch Ratings affirmed its A-minus rating and positive outlook for toll revenue bonds issued for the South Bay Expressway.