Yvette Shields

Starved for capital funding, the Regional Transportation Authority of Illinois unveiled a $2.5 billion borrowing proposal Friday that relies on projected growth in existing revenue streams and maintenance savings to repay.

Moody's says Chicago Public Schools' already strained balance sheet can ill afford the added burden of its first teachers strike in 25 years with the "magnitude" of the union's demands and disruption negatively pressuring the credit.

Chicago's proposed new use agreement with Midway International Airport's airlines calls for more than $1 billion in capital and maintenance spending over its 15-year term as the city continues to weigh whether to privatize operations.

The Illinois Finance Authority advanced more than $345 million in new-money and refunding issues for healthcare, higher education, and cultural institutions.

The State Iowa Board of Regents will take competitive bids Wednesday on $190 million of bonds that will more than double its healthcare system's debt load as it raises financing for a new children's hospital.

A Minnesota city that voted late last month to cancel its lease and financial support for a struggling sports complex paid a steep price for its action in the loss of its investment grade rating even though the city contends it was simply exercising its legal rights.

Wisconsin collected $127 million more of general purpose revenue in the last fiscal year than projected last May, according to new figures from the state's Department of Revenue.

Moody's Investors Service has upgraded Allina Health System's rating by one notch to Aa3 in recognition of its favorable fiscal performance.

Moody's Investors Service raised its rating by one notch to A1 on CentraCare Health System's debt due to the Minnesota-based system's strong financial performance.

While it may have relied heavily on one-time revenues to end political gridlock and strike a budget agreement last year, Minnesota maintains strong financial policies and has a solid track record of making timely budget adjustments as needed, Standard & Poor's said in a special report.

Illinois will take competitive bids Thursday on $50 million of general obligation bonds in its first sale of the new fiscal year that comes after the state's latest downgrade due to pressing fiscal challenges led by legislative gridlock on pension reforms.

Chicago Public Schools' teachers went on strike for the first time in 25 years Monday with market participants closely watching to assess the fiscal impact of an eventual resolution on the cash-strapped district while also gauging the national ramifications for governments facing labor strife and the November elections.

The Regional Transportation Authority of Illinois has hired former Chicago revenue director Bea Reyna-Hickey as its CFO, filling the position left vacant by Grace Galluci's departure to run the Northeast Ohio Areawide Coordinating Agency.

St. Louis-based Ascension Health Alliance is advancing plans to acquire Oklahoma-based Marian Health System, the parent of three regional not-for-profit healthcare organizations in the mid and central states.

Iowa has formally landed Egyptian-based Orascom Construction Industries' proposed $1.4 billion nitrogen fertilizer plant which has filed an initial application to tap up to $1.2 billion of Midwestern Disaster Bond financing.

Top-rated Missouri will take competitive bids Tuesday on its long-planned $164 million general obligation refunding that will achieve double-digit savings and provide some budgetary relief.

Chicago enters the market with $270 million of second lien wastewater revenue bonds Thursday in a deal to raise funds for the city's ramped up efforts to upgrade its aging sewer systems.

The merger of HealthPartners Inc. with Park Nicollet Health Services won't have an immediate impact on the ratings of either system, Standard & Poor's said in a report.

Standard & Poor’s lowered its rating on Brentwood School District, Mo., two notches to A-plus. The outlook is stable. The district has no near-term borrowing plans.

Moody's Investors Service downgraded to A1 from Aa3 its rating on the Kendall County Forest Preserve District's general obligation debt based on narrow general-fund reserves and use of one-time revenues to cover operating deficits.