Yvette Shields

Illinois received seven bids on its $402 million issue of high-grade, taxable revenue bonds Tuesday with JPMorgan winning the bonds with a true interest bid of 4.2706%.

Illinois paid at least $80 million more on general obligation bonds sold between 2005 and 2010 due to its poor reputation with investors, according to a new academic report.

Standard & Poor's raised its rating on the Iowa Board of Regents' parking system revenue bonds one level to AA-minus based on strong parking demand.

Wisconsin will sell up to $295 million of general obligation refunding bonds as soon as Wednesday.

RBC Capital Markets has hired Stratford Shields -- a longtime Morgan Stanley banker and a former head of its public finance business -- to lead its Midwestern municipal banking efforts.

After wrapping a $402 million sales tax backed deal slated for Thursday, Illinois expects to return to the market over the spring with up to $1 billion of general obligation borrowing to fund its ongoing $31 billion capital program.

Missouri-based BJC Health System sold $200 million of debt to finance various projects including an expansion of its cancer center in St. Louis County in partnership with Washington University School of Medicine.

Moody's Investors Service's decision to drop Chicago out of the A rating category over its pension woes strikes at both its credit and reputation, market participants said Wednesday

Veteran Chicago area municipal analyst Peter Fugiel, past chairman of the National Federation of Municipal Analysts and past president of the Chicago Municipal Analysts Society, has died.

Moody's Investors Service delivered a sharp blow to Chicago's general obligation and sales tax rating Tuesday, dropping them down to Baa1 over the city's mounting unfunded pension woes that threaten its "fiscal solvency."

Kansas City, Mo. will borrow $124 million next week to raise financing needed for its long planned $114 million downtown street car project and restructure debt to give it budgetary breathing room to strengthen its pension funds.

The Illinois Supreme Court ordered that four pending lawsuits challenging the legality of the state's pension overhaul be consolidated and handled by the Sangamon County Circuit Court.

Fresh from raising $1 billion from a general obligation sale last month, Illinois returns to the market next week with a $402 million taxable revenue-backed issue as the state wrestles with an expiring income tax increase.

Moody's Investors Service revised its outlook on HealthEast Care System's junk bond rating to positive, signaling the Minnesota system could see a return to investment grade territory if its fiscal performance remains on track.

Missouri House members proposed an alternative bonding proposal to one announced by Gov. Jay Nixon to finance a new state psychiatric facility.

Minnesota raised its projected budget surplus by $400 million to $1.2 billion on Friday providing the state's Democrat-Farmer-Labor Party leaders with room to spend more, bolster reserves and trim taxes in the new legislative session.

Chicago may share some of the same fiscal ills – from large pension burdens to budget deficits -- as bankrupt Detroit but they differ sharply when it comes to overall credit quality, Standard & Poor's stresses in a report released Thursday.

Detroit Mayor Mike Duggan, in his first state of the city address, said the foundation has been laid for Detroit's revitalization as it moves through its historic Chapter 9 bankruptcy.

Standard & Poor's affirmed ratings and removed from CreditWatch Detroit's distributable state aid bonds issued in 2010 and 2012 through the Michigan Finance Authority.

Chicago will hold on to its A-plus rating from Standard & Poor's rating as it heads to market with a $400 million general obligation sale, its first since being hit with triple-notch downgrades last year by Fitch Ratings and Moody's Investors Service over its pension crisis.