Public finance

At a time when states and municipalities face more than $2 trillion of unfunded pension fund liabilities, states are increasingly turning to private infrastructure investments to help close those funding gaps, experts said told treasurers meeting here this week.

Fitch Ratings announced Wednesday that uncertainties in federal transportation funding led to downgrades of GARVEES. The agency also warned against further weakening possible along the current trajectory.

Table as of: 09/11/2012 17:12 PM Invisible Supply Issuer and purpose Amount

ARKANSAS

ALABAMA

Moody's Investors Service Tuesday repeated a threat to downgrade the United States sovereign debt rating.

A new report from Loop Capital Markets concludes that airports that rely heavily on cargo shipping have been less resilient during the recession and subsequent recovery than more passenger-oriented facilities.

ILLINOIS

CALIFORNIA

Table as of: 09/10/2012 16:21 PM Invisible Supply Issuer and purpose Amount

The recent Berkshire Hathaway trade, sound technicals and a recent industry move to standardize contracts might increase interest in muni credit default swaps, which has suffered from apathy on the part of investors and a lack of price volatility to attract traders.

Airports Council International-North America released a manifesto Monday, calling for the U.S. government to eliminate the alternative minimum tax on private activity bonds and provide airports with reliable funding mechanisms.

Rep. Bill Shuster looks like the most likely candidate to follow in his father's footsteps as the next Chair of the House Committee on Transportation and Infrastructure, but several dark horse candidates are also in the mix, transportation lobbyists say.

NEW YORK

ARKANSAS

After plunging during the financial crisis, the issuance of municipal bonds subject to the alternative minimum tax is slowly rebounding, with airports leading the way.

ARKANSAS

Table as of: 09/06/2012 17:08 PM Invisible Supply Issuer and purpose Amount

ARIZONA

The municipal market outperformed the Treasury market on this sluggish holiday week by largely recording less significant backups in yields. Muni bond indexes were mixed, though mostly higher.