Investments

CHICAGO — Last year’s dire predictions that a coming record wave of expiring bank credit facilities would tax the municipal market did not come to fruition in the first quarter, according to a new report from Moody’s Investors Service.

New issuance remains sparse with a light calendar this week on the heels of last week’s slim pickings.

ARKANSASDrew Central School District No. 5 of Drew CountyMay 5, 2011 . . . . . . $4,575,000

ALABAMAVance (City)May 5, 2011 . . . . . . $1,640,000

In a quick shift, net outflows from tax-exempt money market funds fell to $302.8 million for the week ended May 2, according to the Money Fund Report, a service of iMoneyNet.com.

CALIFORNIABuckeye Union School DistrictMay 4, 2011 . . . . . . $11,495,000

ARIZONAPhoenix Industrial Development AuthorityMay 4, 2011 . . . . . . $8,750,000

ARIZONAChandler (City)May 3, 2011 . . . . . . $15,000,000

GEORGIAGeorgia Municipal Gas AuthorityMay 3, 2011 . . . . . . $60,000,000

CHICAGO — The University of Chicago Medical Center will enter the market with $182 million of debt beginning next week to wrap up its planned borrowing for a new hospital pavilion that will house its complex-care services.

IOWAAnkeny (City)May 2, 2011 . . . . . . $19,920,000

FLORIDALakewood Ranch Stewardship DistrictMay 2, 2011 . . . . . . $36,255,000

The University of Arkansas will renovate six residential facilities and rebuild a fire-damaged fraternity house with $28.2 million of bonds approved last month by UA trustees.

MASSACHUSETTSPlymouth (Town)Apr 28, 2011 . . . . . . $41,595,000

ARIZONAContinental Elementary School District No. 39Apr 28, 2011 . . . . . . $2,000,000

Table as of: 04/29/2011 15:48 PM Invisible Supply Issuer and purpose Amount* Approval

Fitch Ratings last week upgraded Fairleigh Dickinson University to BBB from BBB-minus, as the private institution has shown positive operating margins during the past few years.

After the billion-dollar Chicago financing for O’Hare International Airport temporary boosted supply and lured retail investors to its 6% yields last week, volume will again recede to its previously skimpy state with few sizable deals vying for investors’ attention this week.

ARKANSASGreenwood School District No. 25 of Sebastian CountyApr 28, 2011 . . . . . . $6,370,000

ARKANSASNorth Little RockApr 28, 2011 . . . . . . $16,000,000