Caitlin Devitt

CHICAGO — Strong governance at nonprofit hospitals appears to be a leading factor in winning upgrades, according to a report released this week by Moody’s Investors Service.

CHICAGO — Minnesota is facing a $1.2 billion deficit through 2011 and could see a record $5.4 billion shortfall by 2013, according to the latest state revenue projections released yesterday.

CHICAGO — Columbus, Ohio-based Nationwide Children’s Hospital today will begin pricing $100 million of fixed-rate revenue bonds to finance a chunk of its $800 million, six-year capital plan.

Four Ohio state legislators last week introduced a package of bills that would place a constitutional amendment on the May ballot allowing communities to opt out of having a casino established in their region.

Moody’s Investors Service last week placed its A1 issuer credit rating for the Health Alliance of Greater Cincinnati on watch list for possible downgrade as the system undergoes changes in its corporate structure.

Despite falling revenues, Indiana’s financial position remains strong, supported by political leaders who are committed to plugging a fiscal shortfall and returning the budget to a state of structural balance, Standard & Poor’s said in a recent review of the state.

Indianapolis Mayor Greg Ballard has appointed a new president and five new members to the cash-strapped Marion County Capital Improvement Board, which manages the city’s sports venues and convention center.

CHICAGO — The St. Louis Art Museum today will price $20.4 million of fixed-rate cultural facilities revenue bonds and will follow up as early as next week with $25 million of variable-rate debt — a year after postponing the sale amid the market turmoil of late 2008.

CHICAGO — The Michigan State Building Authority is expected to enter the market Wednesday with $105 million of lease-backed, fixed-rate revenue bonds.

CHICAGO — Smaller urban hospitals are especially vulnerable to fallout from cost-cutting measures that are certain to be part of a final health care reform bill now being debated by Congress, said Moody’s Investors Service.

The chairman of the bond-issuing Michigan State Housing Authority is the target of several lawsuits adding up to more than $100 million, according to a report in the Detroit News this week.

Fitch Ratings downgraded $98 million of general obligation bonds issued for the Indianapolis-Marion County Public Library to AA from AAA.

The Cook County, Ill., Board of Commissioners passed a $3.4 billion all-funds fiscal 2010 budget last week, marking the first time in 10 years that the board passed a budget before the end of the county’s fiscal year.

CHICAGO — Ohio Attorney General Richard Cordray filed a lawsuit in federal court Friday accusing the three major rating agencies of colluding with banks and issuers of mortgage-backed securities by inflating ratings on the debt, leading to major market losses for investors like Ohio’s pension and retirement funds.

CHICAGO — Detroit hopes to issue up to $250 million of fiscal stabilization bonds — a move that would require a change in Michigan law — as part of Mayor Dave Bing’s plan to eliminate the city’s $325 million deficit and avoid running out of cash by early next year.

CHICAGO — Fitch Ratings this week downgraded $572 million of sales tax-backed debt issued by Hamilton County, Ohio, as it faces a steep decline in the revenue source that funds general operations and its two major sports stadiums.

CHICAGO — The Cook County, Ill., Board of Commissioners this week voted to repeal half of a sales tax increase that was implemented last year and remains the most unpopular and controversial tax hike in recent county history.

CHICAGO — The economies of Iowa, Nebraska, and the Dakotas have emerged as some of the healthiest in the U.S., enjoying a rare stability anchored by strong commodity prices while largely escaping the strains posed in other states by the housing market’s collapse and high unemployment.

CHICAGO — Ohio-based public power provider American Municipal Power Inc. today will price $605 million of revenue bonds — the bulk of which are taxable Build America Bonds — to raise funds for the first stage of construction of a trio of hydroelectric plants along the Ohio River.

Moody’s Investors Service downgraded Madison’s water revenue bonds one notch to Aa2 due to challenges facing the system that have hurt its liquidity levels.