Yvette Shields

A group of Chicago unions, employees and retirees sued Tuesday to overturn pension reforms approved earlier this year, a move that threatens to reverse strides in stabilizing two of the city's four pension funds and the city's credit ratings.

Ohio-based American Municipal Power Inc. – the largest public owner of the bond-financed Prairie State Energy Campus – plans to refund up to $646 million of debt tied to the controversial project that has angered some local municipal participants over its higher energy costs.

Missouri State Auditor Tom Schweich last week announced guidelines for his planned audit of 10 municipal court systems that includes Ferguson amid growing public and legislative concerns over abuses.

Operating gains prompted Moody's Investors Service to revise Iowa's UnityPoint health system's outlook to stable from negative.

Moody's Investors Service has revised Ohio-based Kenyon College's outlook to stable from negative on its A1 rating as the school's stronger performance in fiscal 2014 is expected to continue.

Illinois Gov.-elect Bruce Rauner has the legal authority to appoint a replacement to serve out the upcoming term of the late Comptroller Judy Baar Topinka, but Illinois lawmakers should hand the decision over to voters in 2016, Attorney General Lisa Madigan said.

The federal government has given Illinois and Indiana the go ahead to advance plans for a more than $1 billion bistate toll road both states hope to build with financing from a public-private partnership.

A federal judge in Chicago has signed off on Harvey, Ill.'s settlement with the Securities and Exchange Commission over charges it misled investors by diverting bond proceeds from their intended use.

The Metropolitan Water Reclamation District of Greater Chicago will bring as soon as Monday a $300 million sale that offers a mix of refunding securities and new-money designated as "green bonds" to fund projects including the mammoth deep tunnel project.

Seven St. Louis County local governments, including Ferguson, face litigation challenging the legality of their municipal court fees.

Squeezed for funds to finance transportation projects, Missouri is eyeing tolls to improve and expand Interstate 70.

Minnesota Gov. Mark Dayton tapped his Department of Revenue Commissioner Myron Frans to replace Jim Schowalter in the state's top fiscal post at Minnesota Management and Budget, which oversees debt management.

The Illinois Supreme Court agreed Wednesday to an expedited review of Illinois' appeal of a lower court ruling overturning state pension reforms.

The Illinois Finance Authority board signed off Rush University Medical Center $600 million refunding and issues that will help finance Chicago Navy Pier's big overhaul and finance construction of a compressed natural gas station for Pace suburban bus service.

Illinois Comptroller Judy Baar Topinka, admired across party lines for her blunt nature and down-to-earth style, died early Wednesday after suffering a stroke. She was 70.

A profound shift in debt management and the control of a handful of state related agencies with bonding powers may lay ahead for Illinois as the state ushers in its first Republican governor in 12 years.

The Iowa Public Employees' Retirement System’s funded ratio rose to 82.7% in the last fiscal year up from 81% a year earlier.

Moody's Investors Service has shifted its outlook to positive from stable on Illinois-based Blessing Hospital's A3 rating in recognition of strong growth on its investments.

Moody's Investors Service has revised its outlook on Central Minnesota Municipal Power Agency's A3 rating to positive from stable as the agency makes progress on a high voltage transmission line project and its members have seen improved credit quality.

Connecticut Treasurer Denise L. Nappier will receive the Chicago-based Women in Public Finance Founders Award for lifetime achievement with the group's "She's Our Hero" award going to Monika Suarez at Western Alliance Bank in Los Angeles and the "Rising Star" award going to Jessica Akey, of the state of Illinois.