Public finance

Illinois’ rising bill backlog if left unchecked could pressure the state’s already battered credit rating, Moody’s Investors Service warns in a new commentary.

The Highway Trust Fund will remain solvent through 2020 with a $70 billion general fund transfer but the revenue shortfall won’t go away, CBO said.

ILLINOIS

CALIFORNIA

Stock market swings could affect California's credit quality, which is linked to its ability to maintain balanced fiscal operations that are heavily linked to the stock market's performance.

California cuts road and transit project funding by $754 million over five years as fuel sales tax revenues fall in step with pump prices.

Pennsylvania's intercept programs for school districts remain a strong credit feature despite downgrades related to the state's budget impasse, said Janney.

ALABAMA

Virginia planners determine that express toll lanes on Interstate 66 is best way to cut travel times.

Market technicals – a lack of supply and significant Jan. 1 rollover proceeds – are bolstering municipal demand and price stability in the New Year so far, according to Jeffrey Lipton, head of municipal research and strategy at Oppenheimer & Co.

CALIFORNIA

ALABAMA

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was one basis point lower to 4.14% from 4.15% for the previous week.

California Public Employees' Retirement System chief executive officer Anne Stausboll announced Thursday that she will retire as the head of the nation's largest public pension fund.

South Carolina Gov. Nikki Haley asked lawmakers to raise the state's gasoline tax and cut the income tax rate.

A continuing decline in oil prices will strain the budgets of five producing states to varying degrees, according to Standard & Poor's.

ALASKA

ALABAMA

Arkansas Gov. Asa Hutchinson wants to raise state transportation funding by $750 million over 10 years without raising taxes.

Aging and underfunded infrastructure is the greatest challenge for mayors, according to a survey sponsored by the U.S. Conference of Mayors and The Boston University Initiative and supported by Citi.