Caitlin Devitt

Moody’s Investors Service revised its outlook to negative Monday and affirmed its Aa3 rating on Earlham College. The liberal arts college in Richmond has $36.4 million of direct debt, of which $26.5 million is rated by Moody’s.

CHICAGO — After years of selling its long-term debt through negotiated sales, the Cleveland Metropolitan School District opted to take competitive bids on its recent issue of $55 million of qualified school construction bonds.

CHICAGO — Detroit Public Schools will hit the market Tuesday, taking retail orders on roughly $210 million of debt and opening it up to institutional buyers Wednesday.

CHICAGO — The continuing-care retirement community sector is starting to show signs of stabilization after suffering through two years of hardship, according to credit analysts.

CHICAGO — Michigan lawmakers Wednesday were expected to wrap up the final $46.7 billion all-funds budget for 2011 as the state heads into a new fiscal year Friday.

CHICAGO — Michigan’s largest charity-care provider, already junk-rated, saw its outlook revised to negative by Moody’s Investors Service Monday.

Michigan Gov. Jennifer Granholm told the Detroit Free Press last week that the beleaguered Detroit Public Schools system would likely have to remain under state control for several years.

Fitch Ratings downgraded to A-plus from AA its rating on Reid Hospital & Healthcare Services Inc., affecting $188 million of debt. The outlook remains negative at the lower rating.

A civil engineering group gave Indiana’s infrastructure a grade of D-plus in a report card, warning it needs billions of dollars in improvements. The state’s grade was slightly higher than the nationwide average of D.

CHICAGO — Ohio Tuesday will take retail orders for $582 million of refunding bonds to achieve lower interest costs over the next eight years.

CHICAGO — Investor outreach has become increasingly important as issuers continue to struggle with fiscal and market challenges, said panelists at the Women in Public Finance conference here Thursday.

CHICAGO — The Nebraska Public Power District will enter the market Monday with $270 million of bonds as part of its annual borrowing to finance capital projects.

CHICAGO — North Dakota continues to buck national trends, with officials this week reporting that revenues collected in the current biennium have exceeded projections and that the state is on track to see a $700 million surplus by next June.

CHICAGO — Indiana voters in November are expected to approve a ballot measure to make the state’s property-tax caps permanent — a move some local officials say could deepen the chill on local government borrowing that’s settled over the state since the caps were enacted in 2008.

Kent State University’s board last week approved $250 million of capital projects that feature $210 million of general receipt-backed borrowing.

Standard & Poor’s this week raised its rating on debt issued by three local governments under a Michigan credit-enhancement program for local transportation bonds.

Michigan lawmakers working to meet next week’s deadline for a final fiscal 2011 budget said it appears unlikely it will include a controversial proposal to build a new bridge over the nation’s busiest trade route linking Detroit and Windsor, Canada.

Macomb County officials are considering issuing $20 million to complete a 70-mile hiking and biking trail.

CHICAGO — Triple-A rated Madison, Wis., today will competitively price $110.7 million of debt that features five series, most of which are taxable general obligation promissory notes.

CHICAGO — The South Dakota Housing Development Authority is offering homebuyers the lowest interest rate in its history, thanks to recent changes in the federal New Issue Bond Program.