Yvette Shields

Moody’s Investors Service last week called Menasha’s settlement with holders of its defaulted steam plant notes, and the sale-leaseback of its electric utility assets to help fund the agreement, “positive developments for the city’s credit profile.”

Standard & Poor’s last week affirmed Missouri’s top credit marks.

Former Iowa Gov. Chet Culver has formed a business consulting firm that seeks to promote his experience in infrastructure development and renewable energy.

Moody’s Investors Service this week put Loyola University Chicago’s A3 rating on watchlist for a possible upgrade in recognition of the positive impact on its credit profile expected from the school’s upcoming sale of its health system.

CHICAGO — Fitch Ratings affirmed O’Hare International Airport’s third-lien general airport revenue bond rating and raised its passenger facility charge-backed credit as Chicago prepares to enter the market next week with $1.1 billion of airport bonds.

CHICAGO — Illinois escaped short-term “financial catastrophe” by raising the income tax and using a one-time infusion of cash from two bond sales and a tax amnesty, but challenges persist as overdue bills mount and debt service is on the rise, Comptroller Judy Baar Topinka warned in her office’s quarterly report published Friday.

CHICAGO — State legislation paving the way for a partially bond-financed, publicly subsidized stadium for the National Football League’s Minnesota Vikings is expected to be formally introduced on Monday to a mixed reception.

CHICAGO — Iowa’s Xenia Rural Water District has proposed a five-year restructuring plan that calls for investors who hold $83 million of revenue bonds to receive full payment. However, it hinges on the willingness of other creditors to “share in the pain” of restoring the district to fiscal solvency by forgiving some debt, said interim executive director Marc DeLong.

CHICAGO — The efforts of five Wisconsin school districts to recoup their ill-fated $200 million investment in collateralized debt obligations have received reinforcement in the form of possible Securities and Exchange Commission action against an investment bank for its role in the transaction.

CHICAGO — Kansas City, Mo., and St. Louis officials were breathing easier Wednesday after voters in both municipalities overwhelmingly endorsed the continued collection of a 1% tax on wages and salaries.

CHICAGO — Menasha, Wis., expects to close Wednesday on the sale of its electric utility assets to WPPI Energy in an $18 million sale-leaseback transaction to provide the bulk of funds needed to cover the city’s proposed settlement with holders of $23 million of defaulted steam plant notes.

CHICAGO — Wisconsin Gov. Scott Walker’s long-stalled plan to restructure $165 million of debt to eliminate a shortfall in the current budget won legislative approval Tuesday and will go before the State Building Commission Wednesday as officials work to complete the deal before an April 14 deadline.

Standard & Poor’s has revised the outlook on Lambert St. Louis International Airport’s A-minus rating to negative from stable due to weak debt-service coverage levels.

Missouri Gov. Jay Nixon last week announced plans to submit applications seeking nearly $1 billion in federal high-speed and intercity passenger rail funds.

The Illinois Senate has advanced a proposed consolidation of the state treasurer and comptroller’s offices.

Cook County Board President Toni Preckwinkle and Chicago Mayor-elect Rahm Emanuel last week announced the formation of a joint committee to explore how the two governments can partner to cut costs, improve service delivery and streamline interaction with the public.

CHICAGO — The Urbana, Ill.-based health care provider Carle Foundation is set to enter the market later this month with $230 million of new-money debt, and will privately place another $100 million of bonds with two banks in a structure that lowers borrowing costs and limits liquidity risks.

CHICAGO — Voters in Kansas City and St. Louis will cast votes Tuesday on whether their cities can continue collecting one of their main sources of revenues — a 1% tax on wages and salaries — in a decision that stands to impact their credit ratings.

CHICAGO — The funded ratios of state pension plans remains on the decline even as investment returns rebound from losses. That has put more pressure on state balance sheets and tested their commitment to meet actuarially based contribution requirements, Standard & Poor’s says in a new report.

CHICAGO — The Lombard Public Facilities Corp. in Illinois has extended to April 14 its tender invitation to holders of $144 million of revenue bonds issued to help finance its hotel and conference center to give bondholders more time to review its restructuring proposal.