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Missouri AG Sues Cities Alleging Excessive Traffic Fines
Missouri Attorney General Chris Koster sued 13 St. Louis County municipalities Thursday alleging violations of a state law that limits how much money they can make from court-related traffic fines.
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One week after its emergency from Chapter 9 bankruptcy, Moody's Investors Service has assigned Detroit an issuer credit rating that's deep in junk bond territory at the B3 level.  more »
Illinois Gov. Pat Quinn will call lawmakers back to work on Jan. 8 to take up legislation setting a special election to allow voters to pick a replacement to serve out the late Judy Baar Topinka's term that begins next month.  more »
Michigan-based Trinity Health is acquiring the Connecticut-based Saint Francis Care in a deal that allows Trinity to expand its Northeastern footprint and gives Saint Francis improved access to capital.  more »
Moody's Investors Service assigned a negative outlook to Batavia, Illinois electric system revenue bonds citing weakened coverage levels and concerns over political will to raise rates tied to its participation in the Prairie State coal-fired project.  more »
Ferguson, Mo.'s use of reserves to paper over budget deficits prompted a warning from Moody's Investors Service that the city's Aa3 rating could face a downgrade.  more »
A group of Chicago unions, employees and retirees sued Tuesday to overturn pension reforms approved earlier this year, a move that threatens to reverse strides in stabilizing two of the city's four pension funds and the city's credit ratings.  more »
Ohio-based American Municipal Power Inc. – the largest public owner of the bond-financed Prairie State Energy Campus – plans to refund up to $646 million of debt tied to the controversial project that has angered some local municipal participants over its higher energy costs.  more »
The city of Hammond, Ind. is selling $36.2 million of junk-rated, moral obligation bonds this week backed by payments from a water supply contract with a Chicago suburb that is looking to exit the agreement.  more »
Missouri State Auditor Tom Schweich last week announced guidelines for his planned audit of 10 municipal court systems that includes Ferguson amid growing public and legislative concerns over abuses.  more »
Operating gains prompted Moody's Investors Service to revise Iowa's UnityPoint health system's outlook to stable from negative.  more »
Moody's Investors Service has revised Ohio-based Kenyon College's outlook to stable from negative on its A1 rating as the school's stronger performance in fiscal 2014 is expected to continue.  more »
Illinois Gov.-elect Bruce Rauner has the legal authority to appoint a replacement to serve out the upcoming term of the late Comptroller Judy Baar Topinka, but Illinois lawmakers should hand the decision over to voters in 2016, Attorney General Lisa Madigan said.  more »
Detroit has just under two weeks to submit and disclose the final tab of its 17-month bankruptcy after attorneys and advisors agreed in mediation to reduce their fees.  more »

As it steps up its efforts to police the municipal securities market, the regulator is turning to potentially career ending sanctions for municipal officials.

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