Caitlin Devitt

CHICAGO - Citizens Energy Group, a nonprofit utility, will enter the market next week with up to $1 billion of new-money and refunding tax-exempt bonds to finance the purchase of Indianapolis' water and sewer systems.

Fitch Ratings last week downgraded Toledo’s sewer bonds to A-plus from AA-minus due in part to a weakening of the system’s debt service coverage levels over the past two years.

Voters rejected 17 of 23 school levy requests in special local elections held last week across Ohio.

Detroit Mayor Dave Bing announced last week that the city has reached a voluntary settlement with a union, resulting in a number of reforms.

Three unions that represent employees in the Detroit Public Schools system filed a federal lawsuit over a 10% pay cut and new requirement that employees pay 20% of their health care costs.

CHICAGO - Ohio will price $25 million of federally taxable general obligation bonds Tuesday that will finance cash bonuses for Ohioans who are veterans of recent wars.

CHICAGO - A bond issuer made up of the University of Nebraska and the city of Lincoln will take competitive bids Tuesday on $100 million of bonds that mark the last large financing for a new arena that is the largest project in state capital's history.

CHICAGO - The Michigan Municipal Advisory Council is looking for the seventh director in its 80-year history as current director Mike Alandt aims to retire by the end of the year.

CHICAGO - Cincinnati-based law firm Frost Brown Todd LLC has hired a pair of Ohio public finance veterans to staff its Columbus office and expand its municipal practice across the firm's five-state footprint.

Moody’s Investors Service downgraded $61.5 million of bonds sold on behalf of John Carroll University to A3 from A2. The Ohio Higher Educational Facility Commission issued the debt on behalf of the school.

Gov. John Kasich said he has asked the Legislature to create a commission to formally explore the consolidation of the state’s school districts.

Upscale food chain Whole Foods and Detroit Mayor Dave Bing announced last week that the company would open a new 20,000-square-foot store in the city in 2013.

State Budget Solutions, a national budget watchdog group, gave Indiana its “Reality Check” award and Gov. Mitch Daniels its “Real Leader” award for the state’s budgeting process and increased fiscal stability.

CHICAGO - Fitch Ratings Friday downgraded a swath of tobacco bonds - stripping some of their investment-grade ratings - as part of its annual sector review amid continued consumption declines by smokers and a dispute between the tobacco companies and states that is diminishing annual payments.

CHICAGO - Cook County, Ill., faces a nearly 16% shortfall in its general fund next year as revenues continue to fall, officials said yesterday as they unveiled preliminary 2012 budget numbers.

CHICAGO - Fitch Ratings this week revised Michigan's outlook to positive from stable, affirming the state's AA-minus rating.

CHICAGO - The Cook County, Ill., Board of Commissioners Wednesday approved a master bond ordinance that clears the way for the new administration's first finance team and its first market ­transaction.

CHICAGO - Moody's Investors Service has assigned a junk-level issuer rating of B1 with a negative outlook to the long-struggling Detroit Public Schools.

CHICAGO - The top-rated city of Columbus, Ohio, will enter the market Wednesday with $289.4 million of bonds, marking the city's annual outing to finance capital projects. Some of the proceeds also will be used for improvements to a site for a new casino.

Voters will get a chance to weigh in on one of Ohio’s most controversial new laws after opponents filed enough signatures to get the issue on the ballot.