Investments

GEORGIA

Moody's Investors Service has downgraded 11 issuers of special tax supported bonds and upgraded three of these issuers.

New Ohio State University housing will be financed in part through bonds.

Underwriters may soon have to adapt to changes in the way they market, conduct, and report the results of retail order periods if the Municipal Securities Rulemaking Board gets its way under a new proposal. The securities regulatory agency is seeking to improve and make retail order periods even safer for issuers and investors.

Retail order periods were first designed to give individual mom and pop investors some muscle in the battle for bond allocations by giving their orders for new issues priority consideration a day or two before the official pricing. Some 15 years later, retail order periods have enjoyed a long track record, growing in popularity and continuing to be an important component of the new-issue pricing process for issuers and investors, municipal experts and underwriters said.

ILLINOIS

ALABAMA

Table as of: 09/17/2012 16:46 PM Invisible Supply Issuer and purpose Amount

The threat that federal subsidy payments for Build America Bonds could be slashed under the sequestration process after administration officials assured issuers those payments were safe could permanently sour the muni market on BABs and other direct pay bonds, market participants said Monday.

The University of Colorado Hospital Authority will issue $290 million of bonds this week to add Memorial Health System of Colorado Springs to its new statewide network in a deal nearly sidelined by a lawsuit over pension programs.

The University of Arkansas will use pledged athletic department revenue, largely from the football program, to support $18 million of bonds for a new academic building.

Transportation advocates are upset about the sequestration cuts. Although most dedicated funding sources for transportation infrastructure were protected from the mandatory spending reductions, highways and airports could both take a hit if Congress doesn't act.

The Pennsylvania Higher Educational Facilities Authority is expected to sell $200 million of revenue bonds on Tuesday and the New Jersey Economic Development Authority is expected to sell $400 million of bonds and notes on Wednesday, with retail pricing Tuesday.

MISSISSIPPI

ALABAMA

Primary market volume should increase substantially this week. Potential issuance is expected to total $8.64 billion, up from total sales of $4.04 billion last week.

The Dormitory Authority of the State of New York is expected to sell $50 million of revenue bonds for Fordham University this week.

CALIFORNIA

ALASKA

Table as of: 09/13/2012 17:37 PM Invisible Supply Issuer and purpose Amount