May 30, 2010 by Post Team
Arizona Lottery:Arizona, last week he got his public support for increased taxes for the First Time In 10 Years, is the sale of 449.3 million dollars in bonds of lottery revenue to help close the budget deficit without last year Place gave an downgrades.
Today’s Sale Arizona do produce Investors Service and Standard & Poor SIX Months after Moody’s downgraded the state of the debt at the United Nations, citing the inability para Managing Your fiscal deficit. S & P Rating Your change an AA-, The Highest Level in Place room, and Moody’s Low-Level United Nations a lower, A1, “before returning a gauge exceeds a Aa2. The lottery bonds Classified As the son of AA-by S & P and A1 by Moody’s.
Lawmakers are trying to close a budget gap of 2.6 million Dollars Millions para The fiscal year begins on July 1, in agreement with the State Joint Legislative Budget Committee. Proceeds from the Issuance of Tax-exempt bonds backed by revenues from the lottery to offer Iran general para Fund “budget relief,” said Moody.
“Taking into account the state of affairs in Arizona this agreement will probably have to come very cheap para balance the market,” said Michael Pietronico, executive director of New York Miller Tabak Asset Management. That while “absolute returns, low child, not a service is in demand for the loan only exists because the tax exemption document so little there.”
The total dollar volume of municipal debt scheduled para Market Reach in the next 30 days was 31 percent last week a near $ 9 billion, the lowest since April 29, agreement with buyers Bond 30 Now visible from the source.
a Flight Safety
Investors are worried that European leaders can fail para Contain the fiscal crisis of the continent and by using a Perceived Safety of U.S. assets. Top-rated tax-exempt yields 10 Years In The meeting yesterday 3.11 percent, the lowest since March 24. Debt yields comparable liabilities fell without Basic point to 4.51 Percent 21 hours, the lowest since December, according to Bloomberg Fair market value.
U.S. Treasury Yields October 1 traded debt Years Near Lowest Level in 12 months, touching 3.16 percent, Market Data BGCanter. Toco hundred United Nations May 21 For 3.1, the lowest since May 2009.
Under Performance Options The Treasury “With sales of inverter cash with very few, therefore yields a MAS The municipal tend Moler Low demand because it has recovered,” said Pietronico.
Offer of the municipalities of Arizona is the fifth “Greatest Week” As States Bring and $ 7.7 billion market. The securities mature in 2013 a series since 2029.
State Lottery generates more than $ 7 billion in sales of tickets in Creating Your FROM Until June 1981, 2009, according to the Web page.
Sales Tax Approved
Voters last week approved with no increase in taxes for the First Time In 10 Years, the adoption of a temporary United Nations United Nations cent Sales Tax Collection Designed a U.S. Boosting Up to $ 1 billion a year para Reducing the budget deficit. The vote will increase step para parte State Sales Taxes United Nations by 6.6 Percent, 5.6 percent, over three years.
Government bond lottery can provide the UN Relief fiscal But, not the child a permanent solution, said Treasurer Dean Martin. Lawmakers should make structural changes in place of “cash infusions at a time,” he said in a telephone interview from Phoenix.
“It would be better to find a permanent solution, cut spending by $ 400 million instead of making the sale,” said Martin. “We are still going a dora a problem next year,” you can not seller lottery twice. ”
Martin is a Candidate for governor in the Republican primary in Arizona.
Arizona Lottery, extended this year by the Legislature and generate revenues from ticket sales 484.5 million dollars in fiscal 2009, no increase of 2.5 percent over the previous period, according to the agency. Sales have grown “from the UN on average 4.8 Percent Between 1995 and 2009, said Moody’s, which has a negative outlook on the situation.
Millions lottery it expected to generate close to $ 166 in income if committed in fiscal year 2013, offering a reach of more than four times maximum annual debt service of 40.4 million dollars, said Moody’s.
The Arizona Department of Administration, What is the Issue of bonds, did not return telephone calls yesterday.
Described below if the pending sales of municipal debt in the U.S.:
SAN FRANCISCO, whose population of the United Nations has grown “One hundred and 12 For the past 20 years, according to U.S. Census Bureau, plans to offer 240.7 million dollars in revenue bonds Wastewater Through Public Service Commission, United Nations agreement on competitive tomorrow. The question itself is divided into 192.4 Million Dollars to Build America Bonds and 48.3 million dollars in tax exempt. The money it allocated a United Nations Programme IMPROVEMENT Sewerage System and the return notes previously issued for capital improvements. Titles are classified Fourth Highest Level, and an Aa3 AA-by Moody’s S & P (Added May 25)
Montgomery County, The House of Bryn Mawr College in Philadelphia Suburb, vendor intend 313.8 million dollars in bonds tax exempt Mortgage Revenue Through Its Industrial Development Authority, as soon as next week. Income from the sale itself will finance the construction of the United Nations in the hospital without golf Trial. The Securities Markets, Goldman Sachs Group Inc., it will expire in the series from 2013 2020 and until 2025, 2030 and 2038. (Updated May 25)
Mount Sinai Hospital, nineteenth Medical Center Rated Best in The U.S. Para For The Year 2010 U.S. News and World Report, plans to offer 336.8 million dollars in tax exempt as soon as this week through the Authority’s New York bedroom. The debt itself will be backed by a dedicated revenue stream itself, with proceeds earmarked Hospital reimbursement of outstanding debts from 2000. The title, the greater maturity in 2026, and Fitch have rated themselves Highest Level “By sixth Moody’s at A2 and A, respectively. (Added May 24)
- With the assistance of Michael Marois in Sacramento, Christopher Palmeri in Los Angeles and William Selway in San Francisco. Editors: Walid El-Gabry, Ted Bunker
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