Yvette Shields

The House version of health care reform stands to save state and local governments about $24 billion over the next 10 years, while the Senate leadership's proposal could potentially cut state costs by $83 billion, according to a new study comparing the fiscal impacts of the plans.

CHICAGO — The Menasha Common Council and city utilities commission this week advanced plans that could resolve the Wisconsin city’s debt troubles and a bondholder lawsuit stemming from its now-shuttered steam plant by selling the facility to WPPI Energy.

CHICAGO — Illinois’ credit took a second hit this week as Standard & Poor’s yesterday dropped the state’s general obligation rating out of the double-A category, downgrading it to A-plus from AA-minus due to a deteriorating balance sheet and lack of progress in addressing budget problems.

CHICAGO — Illinois’s rating took its second hit this week when Standard & Poor’s Thursday knocked it down into the high single-A category and assigned a negative outlook based on the state’s deteriorating liquidity and fiscal position.

CHICAGO — The Illinois Finance Authority board this week advanced $400 million of health care financings, including Memorial Health System’s $150 million issue selling today, and hired a new executive director — the agency’s general counsel and deputy director, Christopher Meister.

CHICAGO — Milwaukee will competitively sell up to $50 million of general obligation corporate-purpose qualified school construction bonds on behalf of the Milwaukee Public Schools today in a deal that will help the struggling district pay for capital projects and maintenance.

CHICAGO — Illinois will competitively sell $155 of new-money Build Illinois sales-tax backed bonds tomorrow, the first in a series of deals worth more than $5 billion planned over the next few months as the state struggles with a budget deficit that drove yesterday’s rating downgrade from Moody’s Investors Service.

The trustee on $98 million of St. Louis convention center hotel bonds will hold a bondholder call today to provide an update on the city’s advancement last week of legislation that could boost the hotel’s financial viability and provide some relief from an upcoming tax-related payment owed to the city.

Moody’s Investors Service last week upgraded the Community College District 509 in Elgin to Aaa from Aa1 in conjunction with its upcoming sale this week of $45 million of general obligation bonds that were approved by voters last month. The deal includes taxable Build America Bonds.

Illinois Gov. Pat Quinn last week named Chicago-based public finance banker Maria Saldana to a four-year term on the Illinois State Toll Highway Authority board.

CHICAGO – Moody’s Investors Service this afternoon downgraded Illinois’ $24 billion of general obligation and related debt by one notch to A2 due to the size of the state’s structural budget imbalance and delays in legislative action to address the state’s revenue problems.

CHICAGO — With an upgrade from Moody’s Investors Service in hand, Oak Brook, Ill.-based Advocate Health Care Network enters the market beginning today with $240 million of fixed-rate bonds in a deal that cements the Chicago area’s largest health care provider’s acquisition of ­BroMenn Health System.

CHICAGO — Illinois Comptroller Dan Hynes Friday afternoon announced he would not sign off on Gov. Pat Quinn’s request to issue $500 million of general obligation cash-flow certificates to help pay down a growing backlog of bills, warning that the state can’t afford the additional borrowing.

CHICAGO — Chicago-based Loop Capital Markets LLC has hired Alexander Rorke, the former manager of UBS’ Chicago public finance banking group, to lead its municipal banking group with the charge to move the firm up into the ranks of top senior managers.

CHICAGO — The Chicago City Council yesterday approved a $6.14 billion 2010 budget, putting aside concerns over Mayor Richard Daley’s drain on reserves established with proceeds of the city’s parking meter lease to erase a $520 million deficit in order to avoid raising taxes and fees.

Standard & Poor’s this week announced it had raised the ratings on 11 school districts in Missouri and Wisconsin following a review based on revised credit criteria for smaller districts.

Fitch Ratings last week downgraded Resurrection Health Care one notch to BBB-plus due to operating losses.

CHICAGO — The Clare at Water Tower, an upscale ­high-rise senior-living community in downtown Chicago that has struggled to meet financial ­projections due to cost ­overruns, construction delays, and ­faltering occupancy rates, drew $554,000 from its debt-service reserves to cover its Nov. 15 debt-service payment.

CHICAGO — The Chicago Board of Education plans to enter the market as soon as next week with a $254 million unlimited-tax general obligation issue that will tap its full qualified school construction bond allocation for 2009.

Fitch Ratings last week stripped the Chesterfield Valley Transportation Development District’s 2006 sales tax bonds of their investment-grade rating as the issuer is expected to tap debt service reserves to fully cover its April payment.