Yvette Shields

The Justice Department and attorneys general from six states and the District of Columbia moved to block bankrupt American Airlines' proposed merger with US Airways under federal antitrust laws.

The Michigan Finance Authority will sell $92 million of state aid revenue notes for the Detroit Public School District next week in the first market offering to carry the Detroit name since the city's bankruptcy filing.

Illinois Gov. Pat Quinn has announced more than $70 million in capital grant funding for 115 hospitals across the state.

Moody's Investors Service hit seven of eight Illinois public universities with a downgrade Friday including the flagship University of Illinois in action that cuts more than $2 billion of rated debt primarily over exposure to the state's fiscal woes.

Standard & Poor's has pushed Proctor Hospital's rating deeper into junk bond territory, lowering it to BB-minus from BB-plus and warning of the potential for further deterioration by assigning a negative outlook due to its poor cash position.

Minnesota Municipal Power plans to enter the market in the coming days with a $20 million sale of electric revenue bonds to help finance a bioEnergy project.

The privately owned Branson Airport LLC in Missouri --which is in default on its $113 million of municipal debt -- has filed a lawsuit against a group of airport contractors accusing them of faulty work.

The City Colleges of Chicago has picked a banking team led by Jefferies for its inaugural sale of $250 million of debt that's on track to sell in September or October.

Chicago leaders faced bond investors and analysts in the week after a three-notch downgrade to the city's debt and after Detroit's bankruptcy raised fears about big-city finances, debt and pension funding.

Moody's Investors Service has revised its outlook on Fairview Health Services' A3 rating to stable from negative in recognition of its improved operations.

Illinois Gov. Pat Quinn announced $55 million in grant funding from the state's capital budget for 27 Chicago area colleges and universities.

Moody's Investors Service revised its outlook on Forest Lake Independent School District 831's underlying Aa3 rating to negative as the district heads to market with a $3.4 million bond issue to buy an ice arena and field house.

Minnesota will take competitive bids Tuesday on $470 million of general obligation bonds to finance statewide capital projects as its appropriation-backed issue for the new Minnesota Vikings professional football stadium waits in the wings.

Chicago heads to market Tuesday with a $247 million O'Hare International Airport borrowing to help finance a consolidated car rental center that's part of an $800 million multi-modal transportation facility.

Preliminary results show a majority of bankrupt American Airlines' shareholders and creditors — which include some holders of the airline's $3.3 billion of municipal bonds — have signed off on a proposed reorganization.

Chicago faces a $339 million gap in its next budget before its financial reckoning arrives the following year when public safety pension payments will spike by $600 million, according to new budget estimates.

Illinois-based Advocate Health Care Network enters the market Thursday to raise nearly $100 million of new money for projects at three of its Chicago area hospitals.

Kutak Rock LLP is adding Lance Tyson, who is returning to the firm after a 10-year absence during which he operated his own law firm and served as chief of staff to the former Cook County, Ill. Board president.

Illinois' House Speaker and Senate President filed a lawsuit against Gov. Pat Quinn Tuesday challenging his move to stop paying lawmakers in an attempt to pressure lawmakers to pass pension reforms.

Minneapolis lost it its top credit rating from Moody's Investors Service due to the size of its pension burden and shift in how the rating agency assesses pension obligations.