Yvette Shields

Moody's Investors Service has upgraded St. Croix County to Aa2 from Aa3, affecting $10.9 million of general obligation debt. The review came ahead of the county's planned issue this week of $3.36 million of taxable promissory notes.

Saying Minnesota has to live within its means, Gov. Tim Pawlenty Monday trimmed the $1 billion capital budget sent to him by lawmakers down to $680 million.

Illinois Gov. Pat Quinn last week signed legislation allowing the state to issue $250 million of general obligation certificates in the current fiscal year to leverage additional federal matching dollars for Medicaid.

CHICAGO — Wisconsin will competitively sell $322.6 million of new-money tax-exempt general obligation bonds and taxable GO Build America Bonds tomorrow to finance traditional “bricks and mortar” projects around the state, and will return next week with a roughly $150 million negotiated GO refunding.

CHICAGO — Missouri Gov. Jay ­Nixon last week announced $126 million of cuts to help fill a new hole in the state’s fiscal 2010 budget. He also proposed a partial government overhaul that would consolidate some departments, sell off state assets, and privatize services to save money in future years.

CHICAGO — Minnesota Gov. Tim Pawlenty was expected to first trim and then sign by late Monday the $1 billion capital spending plan lawmakers approved last week.

CHICAGO — Kansas City, Mo., will enter the market on Tuesday with a $43 million new-money and refunding general obligation deal that includes $10 million of recovery zone economic development bonds, and which will be the city’s first negotiated sale to use only certified minority, women, and disadvantaged underwriting firms.

CHICAGO — Facing a $13 billion deficit, Illinois Gov. Pat Quinn yesterday unveiled a $52 billion fiscal 2011 budget that cuts spending by $2.4 billion, relies on $4.7 billion in deficit borrowing, and leaves nearly $6 billion in bills unpaid.

CHICAGO — Illinois Gov. Pat Quinn Wednesday will unveil a proposed fiscal 2011 budget that cuts spending and calls for new deficit borrowing to help trim a $13 billion deficit, but a gaping hole will remain unless lawmakers approve revenue increases, Quinn aides said Tuesday.

CHICAGO — The Illinois Finance Authority yesterday advanced more than $800 million of new-money and refunding debt planned by various organizations, including the Art Institute of Chicago, the Alexian Brothers Health System, and Palos Community Hospital.

Missouri has collected 12.7% less in revenue than originally expected so far this fiscal year, officials said last week.

Standard & Poor’s raised 59 school districts and municipalities in Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Nebraska, and Ohio.

Moody’s Investors Service dropped Libertyville’s general obligation rating two notches to Aa3 and affirmed its negative outlook due to a deteriorated fiscal position.

The Illinois Board of Elections formally named state Sen. Bill Brady, R-Bloomington, the victor of last month’s Republican primary for governor. Brady will face incumbent Gov. Pat Quinn in the November general election.

CHICAGO — The funded ratios of 10 Chicago-area government pension plans further deteriorated in fiscal 2008, driving their unfunded liabilities up to $18.5 billion from $3.4 billion a decade earlier as steep investment losses exacerbated the already poor position of most of the funds, according to a new report from a local watchdog group.

CHICAGO — St. Louis-based Ascension Health on Wednesday launches the first piece of its $1.34 billion new-money and restructuring deal that will raise funds for projects across its network, while also allowing the system to further reduce risk exposure and lower its maximum annual debt service.

CHICAGO — With Illinois more than $700 million in arrears on aid it owes its public universities, the Senate approved a measure yesterday that would allow the universities to issue short-term debt to manage through the ongoing payment delays.

CHICAGO — Moving to take full advantage of the taxable Build America Bond program, Illinois plans to sell as much as $1 billion of general obligation BABs over the next two weeks to raise funds for its $31 billion capital program.

CHICAGO — In some rare positive news, Minnesota’s new revenue forecast released yesterday trimmed $209 million from the previously projected $1.2 billion deficit in the current two-year budget, although a $5.8 billion hole looms next year as the state prepares a new spending plan.

Fitch Ratings on Monday affirmed the Southeast Missouri Hospital ­Association’s BBB-plus rating while revising its outlook to positive due to the hospital’s improved liquidity position.