Investments

Standard & Poor’s lowered its long-term rating on the Philadelphia Hospitals and Higher Education Facilities Authority’s revenue bonds, issued for Temple University Health System, to BBB-minus from BBB.

Standard & Poor’s assigned its A long-term rating to the Massachusetts Development Finance Agency’s Series 2011 bonds issued for Clark University and affirmed the underlying A on outstanding bonds issued for the university by the agency.

ARKANSASElkins School District No. 10 of Washington CountyOct 20, 2011 . . . . . . $8,155,000

ALABAMAOdenville Utilities BoardOct 20, 2011 . . . . . . $2,810,000

Table as of: 10/20/2011 16:02 PM Invisible Supply Issuer and purpose Amount

Municipal bond mutual funds saw a second straight week of inflows, and a sixth week out of seven.

Coming off three weeks of price losses, municipal bonds staged a decent rally this week despite a jump in supply and weakness in Treasuries.

Super downgrades remain rare events, but they reflect a more aggressive posture by the rating agencies, market observers say.

After recouping recent losses and ending a five-week trend of outflows, tax-exempt money market funds lost $2.50 billion for the week ended Oct. 17, as total net assets dropped to $288.10 billion, according to the Money Fund Report, a service of iMoneyNet.com.

ARKANSASJessieville School District No. 1 of Garland CountyOct 19, 2011 . . . . . . $1,860,000

ALABAMAHenry County Health Care AuthorityOct 19, 2011 . . . . . . $2,530,000

DALLAS - The University of Arkansas System will add and upgrade athletic facilities at its main campus in Fayetteville through a 30-year, $320 million master plan announced Tuesday by athletic director Jeff Long.

Georgia Gov. Nathan Deal last week announced the formation of a commission to study funding for higher education.

ARKANSASEast End School District No. 1 of Perry CountyOct 18, 2011 . . . . . . $1,780,000

ALABAMACentreville Water Works And Sewer BoardOct 18, 2011 . . . . . . $4,140,000

Proposals to limit the tax-exemption on municipal bonds get short shrift from the majority of market participants, but some state and local government experts on Tuesday seemed resigned to the notion that tax-reform efforts will inevitably do just that.

CHICAGO - Ohio State University is coming to market this week with at least $300 million of taxable general receipts bonds that feature 100-year maturities, marking the first time a public university has floated century bonds.

State aid to Indiana University could fall to below 10% over the next decade if current trends continue, president Michael McRobbie said at his annual state of the university address.

IOWAJohnston (City)Oct 17, 2011 . . . . . . $8,570,000

CALIFORNIACalifornia Statewide Communities Development AuthorityOct 17, 2011 . . . . . . $2,000,000