Public finance

The Thanksgiving holiday brings a light calendar this week from municipal bond issuers, at $2.25 billion, while investor demand remains considerable and yields hover at record lows.

Two Virginia groups representing local governments have joined the opposition to Gov. Bob McDonnell's and the state Department of Transportation's plan to toll Interstate 95.

A congressional panel grilled members of the Metropolitan Washington Airports Authority board Friday morning in a hearing called to examine a scathing report on the bond-issuing agency's ethical practices and policies.

CALIFORNIA

ALABAMA

Another strong week of inflows for municipal bond mutual funds indicated sustained heightened demand for munis. Funds that report their flows weekly recorded inflows of $706 million for the week ended Nov. 14.

Back-to-back holiday weeks combined with robust demand have kindled a strong rally in the municipal market and driven some muni bond indexes to levels they haven’t seen in more than 45 years.

An Alberta, Canada-based financial publisher seeking to streamline the investing experience for municipal bond buyers has acquired Municipalbonds.com.

Moody's Investors Service has downgraded 27 grant anticipation revenue vehicle bonds, totaling about $10 billion in par value.

The municipal market has seen falling yields, lighter supply and tightening credit spreads of late.

Though tax-exempt money market funds saw cash exit this week, the loss is relatively manageable given the heavy flows in the last two weeks.

A federal loan program for water infrastructure projects is close to reality after getting a push from Sen. Barbara Boxer, D-Calif., at a Senate Environment and Public Works Committee hearing Thursday.

Newport Beach, Calif.-based Mischler Financial Group, Inc., a Service Disabled Veterans Business Enterprise, announced that it plans to contribute 10% of the firm’s November profits to the Wounded Warrior Project.

ILLINOIS

ALABAMA

The credit quality for most municipal issuers who were affected by Hurricane Sandy is likely to remain unchanged, despite late debt service payments by four of them, according to a new report by Moody's Investors Service.

The board of the Metropolitan Washington Airports Authority voted Wednesday to increase rates on the Dulles Toll Road, calling it necessary to finance part of the mostly bond-funded and highly controversial Silver Line rail extension to Dulles International Airport.

ARKANSAS

CALIFORNIA

Moody's Investors Service says that the higher education sector was recently blessed with a credit positive but that the sector will experience mixed credit conditions in the next few years.