Yvette Shields

Lawyers for bankrupt Detroit and creditors opposed to its proposed interest-rate swap settlement met with a mediator Thursday as the city prepared to raise debtor-in-possession financing.

A federal bankruptcy judge did not rule on American Airlines’ confirmation plan but indicated he was leaning towards such a move despite a federal antitrust lawsuit.

The Chicago Board of Education unanimously approved a $6.6 billion budget for fiscal 2014 that dips deeply into reserves — including a first time draw on a debt service account — to help erase nearly $1 billion in red ink.

Moody's assigned a negative outlook to the Catholic Archdiocese of Chicago's A1 rating, citing fiscal pressures that include sexual misconduct settlements and rising cemetery maintenance liabilities.

The Metropolitan Water Reclamation District of Greater Chicago lost its top rating from Moody's over its growing unfunded pension burden, the latest in a series of downgrades to hit Chicago area governments.

In 1996 Wall Street trailblazer Muriel F. Siebert had just a small hand in public finance through the brokerage she founded. That changed over steaks at Manhattan's Post House restaurant when a handshake between Siebert, Napoleon Brandford III, and Suzanne Shank launched the country's largest minority-and women-owned firm, Siebert Brandford Shank & Co. Siebert died over the weekend at age 84.

The U.S. Department of Transportation has finalized Chicago's $288 million Transportation Infrastructure Finance Innovation Act loan to help fund an $817 million intermodal facility at O'Hare International Airport.

Moody's Investors Service has revised its outlook to negative from positive on Edward Health Services Corp.'s A2 rating due to challenges posed by its new affiliation with Elmhurst Memorial Healthcare.

The strong accord of creditors and others behind American Airlines’ confirmation plan could be jeopardized should the plan’s approval be delayed over the federal government’s move to block American’s merger with US Airways Group, an unsecured creditors’ committee warned.

Presence Health in Illinois will privately place up to $215 million of bonds in a deal that restructures outstanding debt of the two Chicago area systems that joined in 2011 to form the new system.

Ill. Gov. Pat Quinn last week formed an independent task force to review and recommend management and oversight reforms for the Chicago region's public transit system that could affect the future of the Regional Transportation Authority of Illinois.

The Minnesota Sports Facilities Authority last week hired Dorsey & Whitney and FTI Consulting to conduct a financial review of Minnesota Vikings owner Zygi Wilf and his real estate business after a New Jersey judge found a Wilf partnership guilty of fraud in a longstanding civil case.

The federal government's attempt to block bankrupt American Airlines' merger with US Airways Group Inc. could have a "marginally positive" impact on U.S. airports, Fitch Ratings said in a report.

Columbus Ohio will offer buyers high-grade paper beginning Monday when it takes retail orders on a $320 million sale of general obligation notes and bonds to cover its annual spending on capital projects.

The judge overseeing American Airlines' bankruptcy put confirmation of the carrier's restructuring plan on hold after the federal government moved to block its merger with US Airways Group.

A federal grand jury indicted former Ohio deputy treasurer Amer Ahmad, recently Chicago comptroller, on corruption charges of orchestrating a kickback scheme involving Ohio investment business.

In a blow to state pension reforms, a Michigan appellate panel struck down provisions in a 2011 law requiring a minimum contribution from state employees to remain in the state's defined benefit plan.

Two small revenue deals from Michigan — a state transportation refunding and a school district financing — found buyers this week at acceptable rates, breaking a logjam on issuance from the state following Detroit's bankruptcy filing.

The Chicago Park District enters the market as soon as Thursday with $162 million of general obligation bonds after being stung with double-notch downgrades from two rating agencies over its deteriorating pension fund and city relationship.

Fitch Ratings stripped Wayne County, Michigan's general obligation ratings of their investment grade over the county's rapidly deteriorating fiscal condition, in a five-notch superdowngrade.