Yvette Shields

CHICAGO — The Missouri Environmental Improvement and Energy Resources Authority will enter the market this week with $220 million of advance-refunding state revolving fund bonds as federal stimulus funds have at least temporarily put off the need for new-money borrowing.

CHICAGO — The Chicago Housing Authority is planning to enter the market as soon as late next week to sell $25 million of taxable revenue bonds under the Build America Bond program in the agency’s first debt issue backed by its own newly minted AA-minus rating.

CHICAGO — Missouri Gov. Jay Nixon this week unveiled a $23.9 billion all-funds fiscal 2011 budget that banks on an economic rebound, federal funds, and cutting spending and jobs to keep the state in the black.

CHICAGO — With an upgrade in hand from Moody’s Investors Service, St. Cloud, Minn.-based CentraCare Health System today will price for institutional buyers nearly $200 million of fixed-rate refunding bonds.

CHICAGO — Repayment of about $46 million of taxable tribal gaming revenue bonds from a $50 million issue on behalf of the Lac du Flambeau tribe in Wisconsin remains in question as investors decide their next move, following a federal judge’s dismissal of their case seeking to enforce their bond indenture rights.

Missouri Rep. Chris Kelly, D-Columbia, last week submitted to the General Assembly a bill that calls for a public vote on $800 million of borrowing for higher education projects.

Standard & Poor’s upgraded Stearns County’s general obligation rating to AA-plus from AA due to its strong financial performance, increased reserve levels and improved financial management.

Iowa Gov. Chet Culver said his upcoming fiscal 2011 budget would fully cover a 2% allowable growth increase in funding for public education. The 2% increase would cost the state $70 million.

Moody’s Investors Service last week downgraded Matteson’s unlimited-tax general obligation rating two notches to Baa2 from A1 and warned of further action with a negative outlook.

CHICAGO — Minnesota Gov. Tim Pawlenty on Friday unveiled an $815 million capital budget that relies on $685 million of general fund-supported bonding amid calls from some lawmakers for $1 billion in capital spending to bolster the economy.

CHICAGO — The Illinois Finance Authority gave preliminary approval this week to the Seneca I-80 Railport Development LLC’s proposed $576 million issue. The move advances development efforts for the proposed freight-transfer facility that is seeking an allocation of tax-exempt, private activity bonding under the federal government’s $15 billion pilot program.

CHICAGO — Illinois Gov. Pat Quinn warned the state faces its worst “financial calamity” ever and said he would push for tax code reforms that raise revenue in a “fair way” in his state of the state address yesterday.

CHICAGO — The Metropolitan Sewer District of St. Louis will sell $85 million of revenue bonds today, tapping the Build America Bond program to raise funds for its long-term $6 billion capital improvement program.

CHICAGO — Faced with rising debt service costs and sagging tourism revenues, the Metropolitan Pier and Exposition Authority will ask Illinois lawmakers who return to work today for the power to restructure its debt and extend a state debt-service subsidy.

Moody’s Investors Service has placed Coon Rapids’ $1.8 million of multifamily housing revenue refunding bonds for the Pine Point Apartments project on watch due to a possible default based on the transaction’s asset-to-debt ratio and projected cash flows.

Fitch Ratings has downgraded Wartburg College’s Series 2005A private facility revenue bonds to BB from BBB-minus with a negative outlook due to a weakened financial profile. The bonds were sold in 2005 through the Iowa Higher Education Loan Authority.

Chicago Mayor Richard Daley last week replaced his chief of staff Paul Volpe with Raymond Orozco, who had led the Office of Emergency Management and Communications. Volpe will become budget director of the Chicago Transit Authority.

CHICAGO — New York City-based M.R. Beal & Co. has hired former Fitch Ratings analyst Joseph O’Keefe to promote its Chicago-area banking efforts as it seeks to carve out a larger piece of Midwestern business, especially in a senior manager’s position.

CHICAGO — After escaping punishment from rating agencies for dipping into reserves to erase its budget deficit, Chicago will enter the market this week with $770 million of new-money and refunding general obligation bonds in a transaction that marks the city’s first use of federal stimulus bonding programs.

CHICAGO — St. Louis-based Stern Brothers & Co. this week announced four new additions to its analytic staff, institutional sales team, and health care banking groups, with an eye toward adding more than a dozen additional professionals to its various groups as the year progresses.