The Bond Buyer articles from June 2005

The Bond Buyer archives from June 2005

The Digest.
June 1, 2005... With tax-exempt traders tentative after a long Memorial Day weekend and cautious ahead of a week of substantial new-issue supply, the municipal market edged higher yesterday but lagged behind a surging Treasury market. Complete market coverage...

Texas-Sized Budget Issues: Education Impasse May Lead to Special Session.
June 1, 2005... DALLAS -- The Texas Legislature on Monday adjourned its 79th regular session after approving a $139 billion budget for the coming 2006-07 biennium that increases spending without adding additional funds for what lawmakers called their number...

Sacramento MUD Aims to Annex Nearby PG&E Customers, Assets.
June 1, 2005... SAN FRANCISCO -- Sacramento Municipal Utility District officials have made a major move toward annexing about 150,000 residents and 70,000 electricity customers from neighboring Yolo County and taking over the Pacific Gas & Electric Co.'s...

Long-Term Bond Volume Remains High: Issuers Sell Amid Flat Yield Curve.
June 1, 2005... A new wave of refundings kept long-term municipal bond volume strong in the first five months of this year, as issuers sold bonds in the face of a flat yield curve to capitalize on low long-term rates and a reduction in negative arbitrage. ...

News In Brief: Chicago PMI Falls To 54.1 in May.
June 1, 2005... The Chicago Purchasing Manager's Business Barometer slid to 54.1 in May from 65.6 in April, the 25th straight month of expansion as defined by a reading above 50.0, the Purchasing Management Association of Chicago said yesterday. The data...

News In Brief: Consumer Confidence Index Rebounds in May.
June 1, 2005... The consumer confidence index rebounded in May, climbing to 102.2 from a downwardly revised 97.5 last month, the Conference Board reported yesterday. The April index reading was originally reported as 97.7. Economists polled by IFR...

News In Brief: NAPM-NY BCI Dips To 337.3 in May.
June 1, 2005... The New York Business Conditions Index in the National Association of Purchasing Management-New York's Report on Business slipped in May to 337.3 from 341.2 in April, the group said yesterday. "Businesses report that activity cooled...

News In Brief: Weekly T-Bills Go At 2.935%, 3.080%.
June 1, 2005... WASHINGTON -- Tender rates for the Treasury Department's latest 91-day and 183-day discount bills were mixed, as the three-months incurred a 2.935% high rate, up from 2.895% last week and as the six-months incurred a 3.080% high rate, down from...

News In Brief: Cash Managements Draw 2.895% High.
June 1, 2005... WASHINGTON -- The Treasury Department yesterday sold $10 billion 14-day cash management bills, dated June 1, due June 15 at a 2.895% high tender rate. The bid to cover ratio was 3.30. The coupon equivalent was 2.939%. The price was...

News In Brief: Treasury 4-Weeks To Raise $7B New Cash.
June 1, 2005... WASHINGTON -- The Treasury Department said yesterday it will sell $15 billion of four-week discount bills today. The 28-day bills will raise $7 billion new cash and refund $8 billion of maturing bills. (c) 2005 The Bond Buyer and...

Tuesday's Market: Munis Edge Up But Lag Treasuries After Long Memorial Day Weekend.
June 1, 2005... With tax-exempt traders tentative after a long Memorial Day weekend and cautious ahead of a week of substantial new-issue supply, the municipal market edged higher yesterday but lagged behind a surging Treasury market. Municipal traders...

Illinois Lawmakers Expected to Pass $53 Billion Budget.
June 1, 2005... CHICAGO -- Illinois lawmakers were expected to adjourn late yesterday after passing a $53 billion budget that eliminates a $1 billion deficit and provides more aid for schools and public transportation by delaying payments owed to the state's...

Mississippi Bond Bill Fizzles at Special Session.
June 1, 2005... BRADENTON, Fla. -- Mississippi lawmakers on Saturday passed a $4.6 billion budget for fiscal 2006, which starts July 1, but they failed for a second time to pass an economic development bond bill. At the end of a nine-day special session,...

California Assembly Votes to Bump Rail Measure to '08.
June 1, 2005... SAN FRANCISCO -- A $10 billion bond measure to finance a California high-speed rail system is on track to further delays. The state Assembly has approved a bill that would delay the bond authorization vote until November 2008. It's...

SEC: Citigroup Units to Pay $208M To Settle Mutual Fund Fraud Charges.
June 1, 2005... WASHINGTON -- Two Citigroup Inc. subsidiaries have been ordered to pay $208 million in penalties and disgorgement, as well as take substantial remedial steps, to settle fraud charges over failing to disclose to municipal and other mutual funds...

Barbara Lloyd Joins Lehman Brothers In Los Angeles as Senior Vice President.
June 1, 2005... SAN FRANCISCO -- Barbara Lloyd joined Lehman Brothers last week as a senior vice president in the firm's Los Angeles office. "She brings a wealth of talent that we think will be attractive to issuer officials," said Peter Taylor, managing...

Mineta: Amtrak Headed for Year-End Deficit of $40M.
June 1, 2005... WASHINGTON -- Amtrak must cut spending or it could end the fiscal year about $40 million in the red, Transportation Secretary Norman Y. Mineta told Amtrak president David L. Gunn in a letter made public last week. "In view of Amtrak's...

Mutual Funds: Muni Outflows Increased in April; '05 Still Showing Net Gain.
June 1, 2005... Municipal bond mutual fund net outflows picked up slightly to $596 million in April as investors filed their personal income tax returns, according to the Investment Company Institute. The April loss compared with a $310 million net outflow...

Retail Focus: Zions Courting Individual Investors With Institutional Prices, Flat Fee.
June 1, 2005... Zions Bancorporation announced last week that it is making bonds available to individual investors at institutional prices, with a flat $10.95 transaction fee. The move, which follows a decision by Fidelity Investments in September of last...

Competitive Bond Offerings.
June 1, 2005... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING...

Competitive Note Offerings.
June 1, 2005... ISSUER ST DESCRIPTION AMOUNT($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Wednesday, June 1 F Clovis USD...

Negotiated Bond Offerings.
June 1, 2005... Tentative dates for negotiated sales of $5 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of May 30 Phoenix Civic...

Negotiated Note Offerings.
June 1, 2005... ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of May 30 Oregon Sch Bds Assoc OR Tax Antic 6,250 Seattle-Northwest --- --- --- --- --- May...

Results of Negotiated Sales.
June 1, 2005... COLORADO Colorado Educational and Cultural Facilities Authority May 19, 2005 $50,365,000 Weekly Variable Rate Student Housing Facilities Revenue Bonds (Campus Village Apartments Project), Series 2005 (Letter of Credit Issued by...

Results of Competitive Sales.
June 1, 2005... CONNECTICUT Hamden (Town) May 31, 2005 $10,000,000 General Obligation Bond Anticipation Notes (book entry). Dated Jun 9, 2005. Due Jul 29, 2005. Purchased $10,000,000.00 by Commerce Cap Mkts, at 3.0%, plus...

Municipal Bond Elections.
June 1, 2005... This table lists bond elections involving $500,000 or more and gives the dates when voters are scheduled to cast their ballots (,000 omitted). Saturday, June 04, 2005 $10,000 Malakoff ISD, TX Tuesday, June 07, 2005 ...

Hands Tied, Phoenix Seeks New Ways to Shelter Homeless.
June 1, 2005... DALLAS -- Stymied in its attempts to spend $7 million in 2001 bond money on a new shelter north of downtown, Phoenix will work with private groups and charities to provide up to 200 additional beds for the homeless. Mo Gallegos, deputy...

Deal in Focus: Univ. of Michigan Pumping Bond Proceeds Into Heart Center.
June 1, 2005... CHICAGO -- The Regents of the University of Michigan will bring $150 million of variable-rate revenue bonds to market tomorrow in a sale that includes a swap and will bring in cash to pay some of the final costs of constructing a new heart...

ILLINOIS: Moody's Lifts Chicago.
June 1, 2005... Moody's Investors Service last week upgraded Chicago's sales-tax backed debt into the low double-A category as the city prepares to sell $150 million of refunding bonds this week. The hike from Moody's to Aa3 from A1 follows Standard &...

ILLINOIS: Illini's New Money.
June 1, 2005... The University of Illinois plans to sell nearly $70 million of new-money, variable-rate auxiliary facilities revenue bonds later this month. Moody's Investors Service last week affirmed its Aa3 underlying rating on the credit. University...

NEBRASKA: Omaha Surplus.
June 1, 2005... The Omaha City Council is set to vote next week on a plan to shift unanticipated surplus revenues the city realized in fiscal year 2004 to a contingency fund. The city also plans to use about $868,000 of the unanticipated $4.2 million...

OHIO: Missing Investments.
June 1, 2005... The General Assembly would reverse a 1996 law that allowed the Ohio Bureau of Workers' Compensation to expand its options for investing state funds under new legislation being introduced after a mishap involving state investments. ...

NEW-ISSUE VOLUME NOTES.
June 1, 2005... The new-issue volume tables are based on information compiled by The Bond Buyer from Thomson Financial's data base on Tuesday, May 31, 2005. All figures are preliminary and subject to revision. Long-term bonds have final stated maturities...

LONG-TERM BONDS: January - May.
June 1, 2005... 2005 2004 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $163,949,500 5,589 $155,385,800 5,613 +5.5 % January 22,469,000 809 20,724,200 850 +8.4 February 31,070,300 994 27,131,400 1,072 +14.5...

LARGEST ISSUES: May 2005.
June 1, 2005... Amount Issuer Date 1,440.0 Detroit, Mich. (TAX/TE) May 25 966.3 Hawaii (State), GOs (NM/ref) May 31 853.1 New York City, GOs May 19 836.2 Arizona Health Facilities Authority (NM/ref) May 10 677.5 New Jersey Economic...

LONG-TERM BONDS: May.
June 1, 2005... 2005 2004 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $34,471,600 1,182 $37,740,600 1,173 -8.7 % Development 448,500 27 229,900 24 +95.1 Education 8,902,000 416 6,794,800 413 +31.0 ...

BOND SALES BY STATE: January-May.
June 1, 2005... 2005 2004 Volume Volume Percentage State Rank ($000s) Rank ($000s) Change Alabama 30 $1,268,300 41 $630,400 +101.2 % Alaska 40 708,700 45 442,600 +60.1 Arizona 15 3,173,200 10 4,102,300 -22.6 Arkansas 38 746,800...

U.S. Securities Prices.
June 1, 2005... Prices as of 3 p.m. ET. Source: GovPx Inc. Treasury Bills Yesterday's Prev. Day's Yesterday's (in percent of discount) Bid/Offer Bid/Offer Bid Yield 1M -- 6/23/2005 2.728/718 2.715/705 2.770 3M -- 8/25/2005 2. -- /880...

Short-Term Tax-Exempt Yields.
June 1, 2005... May 31, 2005 May 27, 2005 Jun 1, 2004 Selected MIG-1/SP-1+ Notes California Rans 3s (June 05) 2.70 2.70 1.25 Los Angeles Co Trans 3s (June 05) 2.60 2.67 1.15 New Jersey Trans 3s (June 05) 2.70 2.70 n.a. Texas Trans 3s...

Municipal Market Data General Obligation Yields.
June 1, 2005... Aaa Aaa (pure) (ins) Aa A Baa 2006 2.73 2.80 2.79 2.90 3.18 2010 3.01 3.14 3.11 3.31 3.66 2015 3.49 3.64 3.60 3.84 4.23 2020 3.87 3.95 3.93 4.15 4.53 2025 4.04 4.15 4.15 4.34 4.67 2030 4.22 4.32 4.32 4.47 4.78...

Market Indicators.
June 1, 2005... Dollar amounts are in millions Day's 2005 2005 Daily Yesterday Change High Date Low Date Municipal Bond Index 115-30 +9/32 116-07 (2/9) 112-11 (1/4) 40 Average Dollar Price 105.02 +0.26 105.59 (2/9) 101.95 (3/30) ...

New-Issue Balances.
June 1, 2005... (,000 Omitted) * Since initial reoffering + Revised upward since last report Amount Date NEW OFFERINGS Sold Balance $20,000 5/31 Elmira City Sch. Dist., N.Y. $20,000 All Sold RECENT OFFERINGS $31,000 5/10 Cambridge,...

Recent Tables.
June 1, 2005... Weekly Bond Buyer Indexes Friday Bond Elections Wednesday Credit Calendar Friday General Obligation Bond Prices Monday Legislative Status Report Monday Merrill Lynch Corporate Bond Indexes Wednesday ...

Reoffering Yields.
June 1, 2005... NRO - Not Reoffered; S.B. - Sealed Bid; SNA - Sold, Not Available Offer Amount Date ($Mil) RECENT OFFERINGS 1 Year 5 10 15 20 25 30 Aaa -- AAA 5/26 15.0 Irving, Tex. 2.80 3.17 3.80 4.22 4.45....... 5/23 17.3 Wellesley,...

Merrill Lynch Corporate Bond Indexes.
June 1, 2005... Performance Comparisons for May 30, 2005 Aaa-Baa Rated Corporates Index Avg. Pct. of Total Return % Close Yield Market Prior Wk. Y-T-D ML Corporate Master 1536.10 5.03 100.00 +0.27 +1.29 Intermediate (1-10 years) 1084.56...

Municipal Bond Index Update.
June 1, 2005... The list of bonds used to calculate the Municipal Bond Index was revised after the May 31 pricing. The new coefficient is 1.0221. It was derived by dividing the May 31 index (115.931513) by the average converted price of the new set of 40...

Municipal Bond Prices.
June 1, 2005... These 40 Bonds are evaluated and priced daily by Standard & Poor's Securities Evaluations Inc. All figures are rounded to the nearest eighth when reported in this table. "Change in Bid" is rounded after calculation. Dollar Change...

Municipal Bond Index.
June 1, 2005... Current Day Previous Day Week Ago Month Ago Year Ago The Bond Buyer Municipal Bond Index 115-30 115-21 115-29 114-23 106-06 Tuesday, May 31, 2005 Maturity Par Call Dollar Conversion Converted Date Date Price Factor Price 1...

Sewer Bonds for Georgia Community On Hold Pending Legal Complications.
June 1, 2005... ATLANTA -- East Point, Ga. is required under a state consent decree to make major repairs to its storm water and sewer system, but a $52 million revenue bond deal to cover those costs is on hold because of a legal motion that questions how the...

S&P Raises Rating on N.Y.C. Hospital Agency to BBB-Plus.
June 1, 2005... Standard & Poor's yesterday upgraded the New York City Health and Hospitals Corp. to BBB-plus from BBB, affecting nearly $1.1 billion of debt, almost all of it insured. Standard & Poor's analyst Liz Sweeney said the move parallels the...

The Digest.
June 2, 2005... Municipal bond prices rose yesterday, but the market underperformed its taxable counterpart after a Federal Reserve Bank president said a rate-tightening cycle might be drawing to a close, sending Treasury prices sharply higher and pushing...

SEC's Donaldson Resigns: Commission Chair to Step Down at End of Month.
June 2, 2005... WASHINGTON -- William H. Donaldson, who took over the helm of the Securities and Exchange Commission in the midst of ongoing corporate and other financial scandals and led the SEC to adopt wide-ranging and sometimes controversial reforms,...

Growing Florida City to Vote on Bonds for East-West Connector.
June 2, 2005... BRADENTON, Fla. -- In the heart of the Treasure Coast along Florida's eastern shoreline is Port St. Lucie, a relatively young but fast-growing residential community where voters on Tuesday will determine the fate of a $165 million general...

Colorado Voters to Face $1.2B: November Ballot Targets Road Needs.
June 2, 2005... DALLAS -- Colorado Gov. Bill Owens yesterday signed legislation authorizing two November referendums that, if approved, could result in $1.2 billion of debt to fund repairs and construction of roads and bridges. HB 1333, sponsored by Rep....

News In Brief: ISM Index Falls To 51.4 in May.
June 2, 2005... The overall economy expanded for the 43d straight month in May, while the manufacturing sector expanded for the 24th time in as many months, the Institute for Supply Management reported yesterday. According to the ISM's monthly report on...

News In Brief: Construction Outlays Climb to Record Level.
June 2, 2005... WASHINGTON -- Spending on construction projects climbed in April to a record high as private construction expenditures rose, according to Commerce Department figures released yesterday. Total construction spending rose 0.5% or $5.4 billion...

News In Brief: Survey Predicts 3.5% Rise in Salaries.
June 2, 2005... Average salary increases will remain below 4% this year and next, according to a survey released yesterday by the Conference Board, which pegged this year's average raise at 3.5%. Additionally, the survey predicts the same 3.5% average...

News In Brief: Treasury 4-Weeks Go at 2.740% High.
June 2, 2005... The Treasury Department yesterday auctioned $15 billion of four-week bills at a 2.740% high yield, a price of 99.786889. The coupon equivalent was 2.784%. The bid-to-cover ratio was 2.83. Tenders at the high rate were allotted 68.55%. The...

Wednesday's Market: Munis, Treasuries Increase on Talk Of an End to Rate-Tightening Cycle.
June 2, 2005... Municipal bond prices rose yesterday, but the market underperformed its taxable counterpart after a Federal Reserve Bank president said a rate-tightening cycle might be drawing to a close, sending Treasury prices sharply higher and pushing...

Indianapolis Council to Vote on Stadium, Convention Center Plans.
June 2, 2005... CHICAGO -- The Indianapolis and Marion County City-County Council is set to vote this month on several tax increases that make up the base of a financing package for the Indianapolis Colts stadium and the city's convention center expansion that...

Connecticut Facilities Agency Readies $82M Sale for University Renovations.
June 2, 2005... The Connecticut Health and Education Facilities Authority plans to sell $82 million of revenue and refunding bonds next Tuesday for state university renovations and repairs, including remodeling a student center and dining hall and new heating...

Temple Univ. Health System Sets $110M Variable-Rate Issue.
June 2, 2005... Temple University Health System plans to sell $110 million of variable-rate revenue bonds in mid-June in a deal that includes a $25 million swap. UBS Financial Services Inc. will price the bonds on June 16 or 17, said Rod Johnson,...

IRS, Treasury Officials to Discuss Circular 230 With Lawyers.
June 2, 2005... WASHINGTON -- Treasury Department and Internal Revenue Service officials will discuss Circular 230 guidance regarding state and local bond opinions with bond lawyers next week, the National Association of Bond Lawyers announced late Tuesday....

Illinois' $54.4 Billion Budget Leaves Out IFA's $5B Request.
June 2, 2005... CHICAGO -- The budget approved by Illinois lawmakers for the next fiscal year totaled $54.4 billion, reauthorized $1.1 billion of general obligation and sales-tax backed borrowing, and restored a tuition perk for holders of the state's college...

Virginia DOT Head Shucet to Leave Post.
June 2, 2005... WASHINGTON -- Philip A. Shucet, commissioner of the Virginia Department of Transportation, is leaving his post on July 1, Gov. Mark R. Warner said in a statement. Warner credited Shucet with turning around VDOT after "years of financial...

DOT Closes on $66M Loan for Louisiana Coastal Toll Road.
June 2, 2005... WASHINGTON -- The U.S. Department of Transportation announced yesterday that it closed on a $66 million loan to the Louisiana Transportation Authority to help finance the first phase of an estimated $247 million elevated toll road that will...

Nassau County, N.Y., Receives Two-Notch Upgrade From Fitch.
June 2, 2005... Nassau County, N.Y.'s general obligation bond rating yesterday entered new territory when Fitch Ratings upgraded the debt two notches to A-plus with a positive outlook from A-minus. Deputy county executive for finance Arthur Gianelli said...

New Hires: Goldman Sachs Makes Moves in Its Muni Business.
June 2, 2005... Goldman, Sachs & Co. recently rehired David Winkelried, a former executive director at Morgan Stanley. Winkelried previously worked at Goldman, but had left the firm for Morgan. He rejoined Goldman in late April as a vice president in the...

Municipal Bond Activities.
June 2, 2005... June 10 The Municipal Analysts Group of New York will holds its final luncheon of the 2004-05 season at the Downtown Association in New York City. Following cocktails, J.P. Morgan's Gary Krellenstein and Morgan Stanley's Gerry Lian will...

Financial Advisers: Triple-A Delaware Issues RFP for Multiyear Contract.
June 2, 2005... Top-rated Delaware is seeking proposals from financial advisers interested in a multiyear contract for services to the state, its Department of Transportation, and its State Housing Authority, according to a request for proposals released...

Competitive Bond Offerings.
June 2, 2005... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING...

Competitive Note Offerings.
June 2, 2005... ISSUER ST DESCRIPTION AMOUNT($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Thursday, June 2 Andover (Town)...

Negotiated Bond Offerings.
June 2, 2005... Tentative dates for negotiated sales of $5 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of May 30 Dysart USD #89...

Negotiated Note Offerings.
June 2, 2005... ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of May 30 Lakewood OH Var Purp GO 15,737 A.G. Edwards - - - - -...

Results of Negotiated Sales.
June 2, 2005... ALABAMA Quint-Mar Water Authority May 18, 2005 $4,575,000 Water Revenue Bonds, Series 2005. Dated May 1, 2005. Due Jan 1, 2010 to 2035. First coupon Jul 1, 2005. Callable Jan 1, 2013 at par. Purchased...

Results of Competitive Sales.
June 2, 2005... ALABAMA Quint-Mar Water Authority May 18, 2005 $4,575,000 Water Revenue Bonds, Series 2005. Dated May 1, 2005. Due Jan 1, 2010 to 2035. First coupon Jul 1, 2005. Callable Jan 1, 2013 at par. Purchased...

ALABAMA: Sewer Scandal Plea.
June 2, 2005... A second public employee charged with taking payoffs in the Jefferson County sewer scandal has agreed to plead guilty and help investigators continue their work on the case. Donald Ellis, an engineer in the county department that oversees...

FLORIDA: Municipalization Day.
June 2, 2005... Winter Park flipped the switch yesterday and began operating its own power system. The city, which is located near Orlando and has a population around 27,000, sold $49.8 million of auction-rate revenue bonds on May 24 to buy the system...

FLORIDA: More Gas Tax Bonds.
June 2, 2005... The Collier County Commission in south Florida last week approved issuing $100 million of revenue bonds secured with a 3 cent sales tax on gas to fund its five-year road construction plan. No timetable was immediately given for the actual...

NORTH CAROLINA: Exploring Garvees.
June 2, 2005... North Carolina could be the next state in the Southeast to issue grant anticipation revenue vehicles. Lawmakers last week referred HB 254 to the House Finance Committee. If signed into law, it will allow the state treasurer to sell Garvees...

SOUTH CAROLINA: TIF Districts Bill.
June 2, 2005... State lawmakers have passed legislation that provides for creation of tax increment finance districts in rural areas of the state. It remains to be seen if Gov. Mark Sanford will sign the bill, which was sent to him last week. Similar...

Virginia: Loudoun Rated Highly.
June 2, 2005... Moody's Investors Service has assigned a Aaa rating to $127.5 million in general obligation bonds that Loudoun County is expected to sell June 8. The other two credit agencies, which have not yet weighed in on the new issue, rate the...

S&P Latest to Downgrade Maine Ahead of $143M GO Sale.
June 2, 2005... Standard & Poor's yesterday downgraded Maine's general obligation debt to AA-minus from AA, citing the state's structural budget imbalance and looming gaps projected in the biennial fiscal 2008-2009 spending plan. The downgrade follows...

U.S. Securities Prices.
June 2, 2005... Prices as of 3 p.m. ET. Source: GovPx Inc. Treasury Bills Yesterday's Prev. Day's Yesterday's (in percent of discount) Bid/Offer Bid/Offer Bid Yield 1M -- 6/23/2005 2. -- /720 2.728/718 2.762 3M -- 9/1/2005 2.910/905 2....