Public finance

Moody's Investors Service has lowered the rating on the State of Illinois' general obligation (GO) bonds to Baa3 from Baa2, amid a prolonged political impasse that has prevented progress on a growing pension deficit and an increasing backlog of unpaid bills

Gas tax, other fees in Oregon’s proposed 10-year road plan would raise $8 billion over 10 years.

Fitch Ratings will now be discounting pension liabilities at a fixed 6% assumed rate of return.

Louisiana Gov. John Bel Edwards called a special session to continue work on the state budget.

A California company will use private activity bonds to spin rice straw into a construction product.

Top-rated municipal bonds were mixed at midday as the market was seeing the last of the week’s bigger sales hit the screens.

The municipal bond market is in store for more volume as the last of the week’s bigger sales are set to hit the screens on Thursday.

Pricing wires for negotiated bond offerings

Puerto Rico Gov. Ricardo Rosselló proposed an austere fiscal year 2018 General Fund budget that he said cut operating expenses by 9.1%.

The Ridgefield School District has taken another step toward building its first new school in 40-plus years.

Cork popping has given way to elbow grease as Academy School District 20 broke ground Tuesday on a $21 million elementary school where Research Parkway dead-ends at Wolf Valley Drive.

Once-bankrupt Detroit ended fiscal 2016 with a $63 million surplus.

Municipal bonds finished stronger on Wednesday as the bulk of the week’s new issue supply swept into the market.

Municipal bond volume dropped for a fourth straight month in May, falling 19.8% from a year earlier as new money deals failed to take up the slack from a plunge in refundings.

Maricopa County, Ariz. is mulling final approval of a $2.49 billion budget.

Wayne County, Michigan hopes to parlay positive credit news into savings on an upcoming jail project issue.

Maryland appeals federal judge’s ruling requiring a redo of ridership projections on Purple Line P3.

An 11-year decrease in Kentucky's workforce upended a key formula underpinning its pension system.

Municipal bonds were stronger at mid-session as the first of the week’s new issue supply swept into the market.

Hartford, Conn.’s Ba2 rating is under review for a downgrade, said Moody's Investors Service.