Caitlin Devitt

Moody’s Investors Service affirmed its A2 rating on Southwest General Health Center, located in the Cleveland suburb of Middleburg Heights, and revised its outlook to stable from negative after the center reported three years of improved operating results.

In the latest episode in the years-long effort to build a $425 million medical mart in Cleveland, the firm that plans to build the center has proposed a new downtown location, a move that “stunned” local politicians, according to reports.

A Toronto-based real estate company is the new owner of the Pontiac Silverdome, former home of the Detroit Lions, after the cash-strapped city auctioned it off last week.

Oakland County Executive L. Brooks Patterson said he plans to hold a summit next month for local government officials to discuss challenges facing Michigan municipalities.

CHICAGO — William Beaumont Hospital, one of Michigan’s largest health care systems, plans to enter the market next week with $273 million of fixed-rate new-money and refunding bonds that will continue the system’s efforts to reduce its floating-rate risks.

CHICAGO — Rapid City, S.D., will enter the market Tuesday with $44 million of water revenue bonds, a relatively large borrowing for the single-A rated home of the Mt. Rushmore National Monument.

CHICAGO — Cleveland is considering imposing new taxes, requiring the city’s hospitals and other nonprofit organizations to pay an annual fee, and selling or leasing its cemeteries as part of an effort to shore up its fiscal position.

CHICAGO — General fund revenues in Michigan are expected to decline more than 20% in fiscal 2009 from last year — the single largest drop since the state began tracking the figures in 1962, fiscal officials say.

Faced with another month of lower-than-expected revenues, Indiana Gov. Mitch Daniels ordered state agencies to defer all capital projects and to cut their budgets by 10%.

Cook County President Todd Stroger yesterday announced that up to $197 million of recovery zone facility bonds are available to private businesses to finance a range of capital projects.

CHICAGO — Setting the stage for a fresh effort to repeal a sales tax increase in Cook County, Ill., Gov. Pat Quinn Saturday signed into law a measure that makes it easier for the Board of Commissioners to override the county president’s veto.

CHICAGO — Voters in Ohio, Indiana, and Michigan were in the mood to say yes Tuesday, approving bond issues for a new hospital in Indianapolis, a capital improvement plan for Detroit Public Schools, and a measure allowing casinos to set up shop in Ohio’s four largest cities.

CHICAGO — Columbus, Ohio, will begin taking retail orders today on $279 million of general obligation debt in a transaction that features five series, including the city’s first Build America Bonds and recovery zone economic development bonds.

Nebraska Gov. Dave Heineman called lawmakers back to Lincoln for a special session starting today to tackle the state’s anticipated $334 million shortfall over the 2009-2011 biennium. He also unveiled his own proposals to close the gap.

The Indianapolis-Marion County City-County Council has formed a committee to recommend solutions to the ongoing deficit at the Marion County Capital Improvement Board, which oversees the city’s sports venues and convention center.

CHICAGO — Indiana has dropped a securities fraud complaint against Chrysler LLC after the automaker agreed to return $5.5 million of bonds that Tipton County issued to finance infrastructure for a now-abandoned transmission plant.

CHICAGO — The Sierra Club of Ohio is ramping up its efforts to prevent ­American Municipal Power Inc. from building a new $3.9 billion coal-fired plant in Ohio.

CHICAGO — Novi, Mich.-based Trinity Health Credit Group will enter the market today with $233 million of fixed-rate revenue bonds, followed by $102 million of variable-rate securities in two weeks to finance hospital projects in Indiana and Michigan.

Fitch Ratings downgraded Lorain County’s limited-tax general obligation debt one notch to AA-minus and the Lorain County Port Authority’s 2003A bonds — which are secured by the county’s pledge of non-ad-valorem tax revenues — to A-plus from AA-minus.

Michigan Gov. Jennifer Granholm said this week she has appointed a team to review the finances of River Rouge, a move that could lead to an eventual declaration of a state of fiscal emergency.